Are Saskatchewan residents falling into a perpetual financial bind? By: Hasan

 Are Saskatchewan residents falling into a perpetual financial bind?

By Hasan Al Hadi | For Ms Walling’s Blog Spot | Posted on January 20th, 2023 | 12:09 PM

Why are Saskatchewan's panicking? 

Prices are soaring! Taking every dime from residents' wallets. Despite having a diverse natural resource base and a young population, a seemingly never-ending cycle of rising costs is putting a strain on Saskatchewan residents. Grocery prices, rent, and taxes have all risen as income levels in the province remain stagnant. Those who are already trying to make ends meet are being driven to the breaking point as living costs continue to rise; it is an untenable scenario for many. To make matters worse, utility expenses have skyrocketed, accompanied by ever-increasing tuition rates. In Saskatchewan, the adverse economic impacts of inflation are causing havoc on daily life. If you value financial stability, you will not want to live here.

Can you believe this?

The poverty rate in Saskatchewan is 19% of the total population, which is astronomical. It also has the second highest percentage in the nation too. The child poverty rate is significantly worse, sitting at a whopping 26%.

A potential solution to this chaos?

• Cutting taxes

• Reducing government expenditures

• Increasing the currency supply

• Job growth & Increased wages

• Providing businesses to invest in the region - such as targeted tax credits or grants that promote research and development

• Affordable housing options for low-income individuals and single parents

•  Expand access to quality childcare for working families

• Public transportation networks so residents can rely less on more expensive private transportation

Saskatchewan's inflation must ultimately be addressed through creative fiscal policy as well as by acknowledging the needs of its people. Innovative incentives, such as high-quality job opportunities, competitive pay, subsidies, and grants, may be used to help the province's economy develop even more.

What do these people want? 

Saskatchewan's residents want to find themselves at the crossroads of despair and relief. Being free from the burden of ever-increasing costs imposed by rising prices is something that nobody wants to see. We should take action to help this cause. Let's tackle this problem as a whole and spread the message!

If you’re interested, feel free to sign this petition, https://www.change.org/p/stop-the-saskatchewan-government-s-tax-on-arts-culture

Works Cited

Consky, Mitchell. “Here's a Look at What's Going to Cost You More, and Less, in 2023.” CTVNews, CTV News, 1 Jan. 2023, https://www.ctvnews.ca/canada/here-s-a-look-at-what-s-going-to-cost-you-more-and-less-in-2023-1.6214563.

“How to Manage the Cost of Living in Canada.” Canada Life, https://www.canadalife.com/investing-saving/how-to-manage-rising-costs-of-living.html.

Immigration, Refugees and Citizenship Canada. “Government of Canada.” Canada.ca, / Gouvernement Du Canada, 10 Aug. 2020, https://www.canada.ca/en/immigration-refugees-citizenship/services/new-immigrants/prepare-life-canada/prepare-financially.html.

“Putting More Money Back in the Pockets of Canadians Today.” Prime Minister of Canada, https://pm.gc.ca/en/news/news-releases/2022/11/04/putting-more-money-back-pockets-canadians-today.

“Residents and Community Leaders Say Poverty and Homelessness on the Rise in Sask. | CBC News.” CBCnews, CBC/Radio Canada, 17 Oct. 2022, https://www.cbc.ca/news/canada/saskatoon/saskatchewan-residents-and-leaders-say-poverty-is-deepening-1.6617196#:~:text=According%20to%20a%202021%20University,highest%20rate%20in%20the%20country. 

Images

Depressionals. “Financial Stress: How to Deal with Financial Problems.” Depressionals, 6 June 2022, https://depressionals.com/financial-stress/.

“Fintech-Focused Yatra Angel Network Marks First Close of Its Maiden Rs 90 Cr Fund.” Moneycontrol, https://www.moneycontrol.com/news/business/startup/fintech-focused-yatra-angel-network-mark-first-close-of-its-maiden-rs-90-cr-fund-9593101.html.