Premier Scott Moe announced on Wednesday the province will be investing $7.5 billion over two years in a capital plan focused on stimulating Saskatchewan鈥檚 economic recovery from the COVID-19 pandemic.
According to a media release sent out by the province, the $7.5 billion in funding represents a $2 billion increase over the government鈥檚 existing capital plan.
鈥淥ver the next two years, our government will invest $7.5 billion dollars in schools, hospitals, highways, Crown utility projects, municipal infrastructure and other important capital projects designed to build a strong Saskatchewan,鈥� said Moe in a media release.
鈥淭his is a $2 billion economic booster-shot over and above the $5.5 billion our government had already planned to invest in capital projects over the next two years and will be an important step in our province鈥檚 economic recovery,鈥� he added.
The plan released by the province includes a stimulus packed of $2 billion in infrastructure investments to stimulate economic recovery and encourage local job creation.
The province said planned investments include construction and major upgrades of health facilities, K-12 schools, post-secondary institutions, highways, bridges and public utility enhancements.
Of the announced funding, approximately $1.37 billion will go towards large infrastructure projects including $103 million for health and $110.5 million for education with additional allocations to be announced at a later date.
Additionally, $300 million will go towards highways projects for thin membrane surface upgrades and passing lanes. It includes $46 million dedicated for upgrades to municipal roads and airports.
According to the province, approximately $181 million will go towards renewal projects to reduce differed maintenance on provincial and third-party assets. This investment includes new allocations of $100 million for health and $25.9 million for education, with the remainder addressing priority projects in other ministries and agencies.
Also included is a $110 million in a per capita payment though a new Municipal Economic Enhancement Program which will support infrastructure projects in communities across Saskatchewan.
The province said the $7.5 billion stimulus package includes the $2.7 billion crown and executive government capital spending already accounted for in the province鈥檚 2020-21 estimates.
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