The Saskatchewan government unveiled the Saskatchewan Affordability Act on Tuesday, a legislative effort designed to alleviate financial strain for residents in 2025 amidst rising living costs. As part of the initiative, the government aims to maintain its status as one of Canada’s most affordable provinces through measures including the indexation of provincial income tax brackets and credits. This adjustment seeks to shield residents from the impacts of inflation.
The new act introduces a reduction in personal income tax while boosting certain exemptions, a move that BDO Debt Solutions notes could be crucial in light of the increasing financial challenges faced by individuals. Jasmin Brown, a partner at BDO Debt Solutions Canada, noted that over half of Saskatchewan residents are living paycheck to paycheck, with rising credit card usage and delinquencies demonstrating the growing monetary pressures.
The government’s strategy includes more than $2 billion in affordability measures detailed in provincial budgets. Despite these efforts, Regina resident Morgana Scully expressed concern regarding the lack of public awareness about available affordability supports, stressing the need for better communication to ensure that those in need can access essential resources.
While the specific impacts of these policies remain to be seen, the government acknowledges the importance of continuing to address the affordability crisis. Scully remains hopeful that further steps will be taken to simplify and disseminate information on these supports, ensuring they reach the individuals who most require assistance.
