The Sir Robert Bond Papers: Pre-emptive rebuttal #nlpoli

This excerpt from Tuesday’s federal budget speech seems aimed at province’s like Newfoundland and Labrador where the government promised the same day that they’d be piling up more debt on top of their current record debt levels until at least 2021: Maintaining Fiscal Balance in the Federation There is no fiscal imbalance between the federal ...

The Sir Robert Bond Papers: The Art of Budget Forecasting #nlpoli

The provincial government set its budget this year based on an oil price forecast of US$124 a barrel in 2012. As we move up on the midway point in the fiscal year (it starts on April 1), oil is well below that.  The result is that the provincial government could wind up with a deficit ...