{"id":1020,"date":"2023-03-22T16:11:00","date_gmt":"2023-03-22T20:11:00","guid":{"rendered":"https:\/\/www.restaurantscanada.org\/industry-news\/saskatchewans-2023-24-budget-gets-governments-fiscal-house-in-order-but-offers-little-cost-relief-for-provinces-restaurants\/"},"modified":"2023-03-22T16:11:00","modified_gmt":"2023-03-22T20:11:00","slug":"saskatchewans-2023-24-budget-gets-governments-fiscal-house-in-order-but-offers-little-cost-relief-for-provinces-restaurants","status":"publish","type":"post","link":"https:\/\/www.restaurantscanada.org\/fr\/saskatchewans-2023-24-budget-gets-governments-fiscal-house-in-order-but-offers-little-cost-relief-for-provinces-restaurants\/","title":{"rendered":"Saskatchewan\u2019s 2023-24 budget gets government\u2019s fiscal house in order but offers little cost relief for province\u2019s restaurants"},"content":{"rendered":"\n

Today, Saskatchewan tabled its 2023-24 budget, which was primarily focused on debt reduction and improving the province\u2019s overall fiscal position with a $1.0 billion surplus. Restaurants Canada was encouraged to learn the budget contained no new taxes or tax increases, which provides the industry with some stability. Unfortunately, it does not provide any substantial cost relief for the struggling foodservice industry. The budget was also a missed opportunity for the provincial government to address a number of operational challenges impacting Saskatchewan\u2019s beleaguered restaurant sector. <\/p>\n\n\n\n

\u201cNot even a year on from the end of pandemic-related restrictions, Saskatchewan\u2019s restaurant sector is still struggling to recover from its lasting impact. The combination of disappointing revenues, skyrocketing operating expenses, and acute labour shortages are making it incredibly challenging for foodservice operators to recover financially,\u201d said Jennifer Henshaw, Vice President, Prairies and the North, Restaurants Canada. \u201cThe 2023-24 budget needed to send the right signals to the province\u2019s foodservice sector, and the greater business community, that Saskatchewan is ready to support a strong economic recovery for some of the hardest hit industries. While the budget certainly moved the fiscal needle in the right direction without any tax hikes or new taxes, it missed the mark by failing to adopt Restaurants Canada\u2019s impactful, common sense recommendations to help our industry,\u201d added Henshaw.<\/p>\n\n\n\n

The Government of Saskatchewan is also proceeding with its plans, previously announced in August 2022, to increase the reduced small business tax rate of 0 per cent, to 1 per cent on July 1, 2023 and another increase to 2 per cent scheduled to take effect on July 1, 2024.<\/p>\n\n\n\n

\u201cIt\u2019s disappointing that the province is moving forward with its planned restoration of the small business corporate income tax rate, which will be increased to one per cent in 4 months, and then 2 per cent in the summer of 2024. This increase will impact some of our smallest restaurant operators at a time when they can least afford it,\u201d stated Henshaw.<\/p>\n\n\n\n

In our 2023-24 pre-budget submission, Restaurants Canada and Saskatchewan-based restaurateurs recommended that the government include some key broad-based cost relief measures in the budget, specifically:<\/p>\n\n\n\n