The provincial government has a very serious financial problem.
The forecast deficit for the current year is the second highest on record at $916 million.
No one knows how big the deficit will be next year, but with oil prices forecast to stay in their current range for the next couple of years, . . . → Read More: The Sir Robert Bond Papers: Better more, and better #nlpoli
This year it is Charlene Johnson’s turn to host a series of meetings across the province that the provincial Conservatives cynically tout as a way for people to have some input into the provincial budget.
It’s cynical because – as the Conservatives know – the major budget decisions are already made before the finance minister . . . → Read More: The Sir Robert Bond Papers: Budget consultations and other political insanity #nlpoli
If you accept the provincial government’s version of things, spending a half a billion dollars more than you are collecting is a responsible decision.
That’s the headline the government’s communications people put on the news release covering the release of the fall budget update.
And if you look at either the Telegram or the CBC . . . → Read More: The Sir Robert Bond Papers: Could be right. Could be wrong. #nlpoli
The throne speech promised that the same Conservative financial management that produced the current financial mess would continue and they delivered in Tuesday’s budget.
The strategic problem remains unchanged
The Conservatives will continue to spend billions in one-time cash from oil and minerals. That’s the structural deficit people have been talking about and the Conservatives . . . → Read More: The Sir Robert Bond Papers: The Debt is Passed: Budget 2013 #nlpoli