Tax incentives for businesses in speech from the throne: Wall

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October 21, 2014 9:08 AM

Saskatchewan Premier Brad Wall was in Lloydminster on Saturday. He announced that this Wednesday's speech from the throne will include tax incentives for export businesses. - Christopher W. Brown Photo

The speech from the throne will be tabled in Regina at 2 p.m. Wednesday

With the eyes of the political parties squarely locked on the Lloydminster constituency, in Regina MLAs are gearing up for what is expected to be a rowdy fall session.

Premier Brad Wall, who was in Lloydminster this past weekend, said that this weeks speech from the throne will, once again, be about moving the province forward.

Wall said that with the falling oil prices, this speech from the throne will grow on what has already been brought forward in last year’s budget.

“We are going to be talking in the speech from the throne, about what else can we do to make sure that our economic strength continues,” he said.

“Right now, we see oil prices around $80-$82 in west Texas, which has gotten everyone somewhat concerned about what that means for the budget.”

Wall added that he believes that last year’s budget put in place safe-guards to help out during turbulent times.

“The budget was balanced and it still will be balanced, but also it means economically it’s important that we never get complacent about a strong economy,” he said

Wall said that Saskatchewan companies will see in Wednesday’s speech from the throne incentives to help grow their businesses.

“You will see some ideas that we have thrown around, that we call new growth tax incentives,” he said. “These tax incentives won’t cost the treasury anything, but might be able to provide tax incentives to companies that are growing their corporate presence, or their manufacturing presence.”

The premier went on to say that export-based businesses will see the most in the speech.

“We will tie those incentives to new jobs created in the (export) industry.”

Also in the speech from the throne, Wall said they will touch on another driver of the economic engine in the province.

“In the Lloydminster area, agriculture has been a engine of the economy for the province, and oil has been an engine of the economy,” he said.

“The New Democratic Party campaigned on royalty changes, and wouldn’t rule out royalty increases for resources, including oil. They have not changed this policy.”

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