Not long after it was reported that the value of building permits dropped, Statistics Canada announced today that investment in building construction in Saskatchewan has dropped year over year, leading the NDP to once again call on the government to remove the PST from construction labour and contracts.
“This drop in investment represents a drop in steady, mortgage-paying jobs in the construction industry and a drop in dollars flowing into the province,” said NDP Finance Critic Trent Wotherspoon. “It’s clear the Sask. Party’s unfair tax hike has done nothing but hurt businesses and workers.”
According to the seasonally adjusted figures from Statistics Canada, total investment in residential and non-residential construction in November 2018 was at $304.1 million, down from $330 million in November 2017.
In that same time period, investment in non-residential construction fell from $118.4 million to $101.3 million. Investment in commercial construction fell from $71 million to $58.5 million.
“Instead of taking smart steps to get more projects off the ground and more workers back on the job, the Sask. Party is standing by its destructive tax hike,” Wotherspoon said. “Their mismanagement of our economy hurts Saskatchewan business and leaves families paying more.”