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SASKATOON — Saskatchewan’s finance minister says his province plans to participate in the federal government’s new mega deduction tax program.
Jim Reiter says implementing the program is expected to cost Saskatchewan’s treasury $400 million each year, but he says it will be worth it in the long run.
The federal program, called the productivity mega deduction, allows companies to completely write off certain capital expenses in a single year, rather than incrementally over several years.
Prime Minister Mark Carney has said the goal of the program, which was included in the federal budget released Thursday, is to boost investment.
Ottawa has said it’s expected to cost an estimated $36 billion over five years.
Reiter says he thinks the measure will encourage Saskatchewan businesses to invest.
“In the short term, there’s a cost,” he told reporters in Saskatoon after attending a chamber of commerce forum.
“In the long term, it’s going to a big financial benefit to the province. The whole point of that is increased provincial revenues that we can use for health care, education, social services, highways and all the services we provide.”
Premier Scott Moe, also speaking with reporters after the event, called the measure positive.
He said his province is continuing to work with Ottawa on developing a new infrastructure program that would guarantee shared funding commitments.
Moe also said he plans on working with Carney on the prime minister’s goal of ending homelessness within 10 years.
This report by The Canadian Press was first published Nov. 6, 2026.
The Canadian Press
