Released on December 18, 2015
Canada’s Finance Ministers Will Meet in Ottawa on Monday to Discuss Infrastructure, Retirement Savings, and Other Issues
Finance Minister Kevin Doherty will join counterparts from other provinces and territories, along with federal Minister of Finance Bill Morneau, at Monday’s meeting of Finance Ministers in Ottawa.
The meeting is expected to focus on infrastructure funding, as well as on a federal proposal to increase mandatory payroll premiums to the Canada Pension Plan (CPP). The Governor of the Bank of Canada will also provide an overview of the Canadian economy.
“We have concerns about government imposing higher CPP payroll premiums on all working Canadians and their employers at a time when our economy is being challenged by the impact of low commodity prices,” Doherty said. “Saskatchewan continues to support voluntary efforts to increase retirement savings through options such as Pooled Registered Pension Plans, ensuring that Canadians continue to have the freedom and flexibility to establish their own financial priorities.”
Doherty is encouraged by the possibility of increased infrastructure funding by the federal government, which will also be discussed at Monday’s meeting. On Friday, Minister Doherty and Economy Minister Bill Boyd met with Regina MP and Minister of Public Safety & Emergency Preparedness, Ralph Goodale to discuss Saskatchewan’s priorities.
“We look forward to discussing our infrastructure priorities with the federal government,” Doherty said. “Wherever possible, we believe new federal funding should align with provincial priorities and avoid putting additional fiscal pressure on the provinces. Cost-shared arrangements for projects that are not already on the provincial list of priorities may not be feasible given the current fiscal environment and the significant infrastructure plan that Saskatchewan already has in place.”
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