Finance Minister Stan Struthers says he’s more than half way to his target of slashing $128 million in government program spending this fiscal year.
At a press conference at the Legislative Building this afternoon, Struthers said he’s delayed or cut $66 million to date.
This spring, Struthers estimated the government would incur a $460 million budget deficit this fiscal year. That assumed $128 million in program cuts and deferrals as well as the sale of $80 million in government assets.
Today, Struthers said he is making good headway on the cost cutting, although he admitted that the province has yet to sell any of its assets.
Struthers said the $66 million in savings was achieved through pauses or reductions in program grants, internal efficiencies and changes in program delivery and policy.
In a press release, he itemized 49 separate savings, including cuts to spending on conferences and advertising and from negotiating better prices for generic drugs.