Opposition Liberals and Greens said it showed the government had no heart
New Brunswick’s expected budget surplus has ballooned by five times, to almost $200 million, according to the Progressive Conservative government’s first-quarter results.
At a news conference Monday, Finance Minister Ernie Steeves called the results encouraging, saying he would much rather see results getting better than worse. In the previous decade, New Brunswick had year after year of high deficits and swelling debt. However, he also stressed that his government took great pride in its cautionary budgeting, ensuring future generations wouldn’t be burdened with bad financial decisions, and warned that a future economic downturn or higher interest rates could deteriorate the province’s fiscal position.
“What we’re hearing is, ‘We’ll discuss it in the months to come’. This isn’t new. This has been since they got elected.”Kevin Arseneau, the Green finance critic and MLA for Kent North, said given the growing population, far more spending was needed on public services.
According to the province’s latest figures, revenue is projected to be $151 million higher than budgeted, while total expenses are projected to be lower than budgeted by $8 million.
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