Projected Surplus In N.B. Jumps To $774M
The surplus is five times higher than the $135 million anticipated just two months ago and 22 times higher than the budgeted surplus of $35.2 million.
The surplus is five times higher than the $135 million anticipated just two months ago and 22 times higher than the budgeted surplus of $35.2 million.
Saint John’s net debt stood at $159.4 million at the end of 2021, down from more than $330 million just three years earlier.
From dental care to new housing projects, the federal government’s massive spending programs won’t work properly unless they have a plan for labour.
The federal government will continue to spend more than it takes in, although this year it will only be half of last year’s $113.8-billion deficit.
Earlier this week, the provincial government introduced two new property taxes targeting people who buy property in Nova Scotia but don’t intend to live in the province full-time
Tenants’ rights advocates say the budget is a tentative step in the right direction, but not enough. Landlords, meanwhile, say the changes have cranked up expenses and will stymie the development of new housing stock.
Chamber CEO David Duplisea said he’s pleased with the reduction of the double tax, which the chamber lobbied hard for
Liberal Finance Critic Rob McKee questioned the figures presented to the public by the provincial government. He believes revenues will again come in far higher than they claim to fuel a significant surplus.
Finance Minister Ernie Steeves also announced a one-year cap on the allowable increase to rent while promising to implement a long awaited property tax reduction for non-owner-occupied residential properties.
The Fredericton Chamber of Commerce has often called for fiscal restraint and reducing the provincial debt and, while that remains important, we must look at the big picture and not be overzealous fiscal hawks.