Wotherspoon asks for answers on impact of credit rating downgrade

Today, Official Opposition Finance Critic Trent Wotherspoon wrote a letter to the Finance Minister demanding answers on the potential future costs facing Saskatchewan as a result of the latest downgrade of the province’s credit rating by Moody’s.

“We’ve lost our AAA credit rating as a result of the Sask. Party’s mismanagement of our finances over the last decade, and now Saskatchewan people will be forced to pay the price,” said Wotherspoon. “The Sask. Party needs to tell the people of our province how much their record of mismanaged projects, corrupt deals and outsourcing jobs is going to cost, and how the Sask. Party plans on making people pay - whether through cuts to services, sale of Crown corporations or public assets, tax increases, or even more debt and deficits.”

On May 21, 2021, the ratings agency Moody’s downgraded Saskatchewan’s credit rating from Aaa to Aa1. Moody’s is the latest agency to downgrade Saskatchewan’s credit rating, following downgrades by DBRS in 2020, and Standard and Poor’s in 2016 and 2017.

“People deserve answers when it comes to our public finances, and the Sask. Party should be straight with Saskatchewan people when it comes to the cost of accessing capital going forward, and the cost of servicing the record amount of debt this government has racked up over the last 14 years.”

Please see the attached link to Trent Wotherspoon’s letter to the Finance Minister.

-30-

Latest posts

NEAR-DECADE OF SASK. PARTY FAILURES LEFT PUBLIC SAFETY AGENCY ILL-PREPARED FOR LAST YEAR’S WILDFIRE CRISIS

Scott Moe, Tim McLeod Dodge Accountability Yet Again

SASKATOON – A near-decade of failure to prepare by Scott Moe, his ministers and the Saskatchewan Public Safety Agency were exposed during last year’s wildfire crisis, says a scathing report that Carla Beck’s team continues to analyze.

SASKATCHEWAN CHILDREN & YOUTH VICTIMIZED BY VIOLENT CRIME HAD CANADA’S HIGHEST RATE OF LATER ENCOUNTERING POLICE

Carla Beck’s Team Calls On Scott Moe, Sask. Party Break Vicious Cycle By Investing In Supports and Intervention For Young Victims

REGINA – Carla Beck’s team is calling on Scott Moe and the Sask. Party to provide significantly more support for child and youth victims of violent crime after a new Statistics Canada study found Saskatchewan had the highest provincial rate in Canada of youth victims later encountering police as accused persons.

SCOTT MOE MUST URGENTLY ADD RESOURCES TO OVERRUN FRONT LINES OF SASKATOON DRUG CRISIS

Saskatoon Fire Report 680 Overdoses In April, More Than 22 Per Day
SASKATOON – Critical first responders continue to urge the provincial government to provide additional support for local organizations working to address Saskatoon’s toxic drug crisis.

SCOTT MOE’S $26-BILLION COAL CATASTROPHE COULD COST SASKATCHEWAN $160M IN ADDITIONAL HEALTHCARE COSTS: REPORT

Pembina Analysis Comes As Medical Experts Across Canada Also Warn About Impacts of Backwards Sask. Party Plan
REGINA – Independent analysis from the Pembina Institute estimates that Scott Moe’s catastrophic $26-billion coal plan could cost Saskatchewan over $100 million in additional healthcare costs.

NDP Caucus Office