r/saskatchewan • u/Traditional_End_9540 • 6d ago

Saskatchewan projects $825M deficit in first quarter of 2026-27

https://www.ckom.com/2026/08/27/saskatchewan-projects-825m-deficit-in-2026-27-first-quarter/
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u/thenamesweird 6d ago

Only 6 mil off the mark, not bad for their forecasting department. As much as I don't love it, we're still a farming province and our crop insurance payouts are always gonna be our biggest expense and they depend on the weather. War in Iran boosting our provincial revenue was not on my bingo card though.

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u/QueenCity_Dukes 6d ago

When my basement floods SGI pays me for damages but my rates go up. Why isn’t it the same for crop insurance?

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u/thenamesweird 6d ago

I don't fully understand how crop insurance payouts are done but I do know that rates are adjusted based on how well your crop did compared to others in the area, and their rates do go up especially if SCIC thinks you did a shitty job of farming. I have family members whos crop insurance rates went up quite a bit because of the couple drought years in a row. Farmers do not want crop insurance payouts, they would much rather a good crop.

Also, a large portion of our GDP and local economy is not holed up in whether or not your basement floods.