Egland scores Teddy Bear Toss goal but Pats lose in OT
5h ago
Over 3,000 stuffed animals were tossed onto the ice.
Saskatchewan NDP Leader Ryan Meili is promising to have SGI cut auto premiums by seven per cent and to give policyholders a $100 rebate if he’s elected premier in the fall election.
The money would come from SGI’s Rate Stabilization Reserve (RSR), a fund that acts as a cushion to prevent big hikes to insurance rates in response to unforeseen events.
In a pre-campaign announcement Thursday morning in Regina, Meili said that fund has grown beyond what is necessary, sitting $117 million above the Crown corporation’s target.
He said it’s only fair to return money that has been overpaid, especially at a time when many are struggling financially.
“There’s money sitting there that, right now, people could use and it’s not going to a good use right now and it could be back in the pockets of ordinary people. That’s where we think it belongs,” Meili said.
“Helping people have — through this program and many others — enough money to actually make ends meet, this is what our first priority should be right now. That’s what putting people first really looks like.”
In a statement, the Saskatchewan Party government responded, calling the NDP plan an “election slush fund that would plunge Saskatchewan almost $400 million further into deficit over the next four years.”
Breaking down that figure, the statement said the reduction in premiums would result in a $70-million loss of revenue each year, costing $280 million over four years.
The rebates would lead to a one-time, $115-million reduction to the RSR.