David Raymond Amos @DavidRayAmos
FYI I have crossed paths with every character mentioned in this article
particularly its author. Nothing they say surprises me anymore and
everybody knows I consider their words less than worthless N'esy Pas?
https://davidraymondamos3.blogspot.com/2019/02/i-have-often-wondered-if-higgs-and.html
https://davidraymondamos3.blogspot.com/2019/02/i-have-often-wondered-if-higgs-and.html
https://www.cbc.ca/news/canada/new-brunswick/higgs-deficit-balanced-budget-1.5002524
PCs promise balanced books, but harsh realities may bring out red ink again
64 Comments
Commenting is now closed for this story.
Commenting is now closed for this story.
David R. Amos
What a difference a day makes EH?
Content disabled.
David R. Amos
Surprise Surprise Surprise
Content disabled.
David R. Amos
FYI I have
crossed paths with every character mentioned in the article particularly
its author. Nothing they say surprises me anymore and everybody knows I
consider their words less than worthless. Hell even Catherine Tait the
new boss of CBC had to eat her words today and still I was not
surprised.
Content disabled.
Al Bekirkey
@Al Bekirkey surprise surprise its removed
Al Bekirkey
@Al Bekirkey surprise surprise its removed
Content disabled.
Al Bekirkey
Al Bekirkey
type in oh canada our bought
and sold out land and teh crime of teh canadian banking system and meet
your strawman in the terminal everyone has to access teh libraries of
alexandria educate yourself
Content disabled.
Al Bekirkey
Al Bekirkey
@Al Bekirkey endgame is another great vid to watch
Content disabled.
David R. Amos
David R. Amos
@Al Bekirkey Methinks you make no point for presenting such things.
Mr Higgs and his cohorts don't care the "Golden Rule" to them is "He With the Gold Makes The Rules" N'esy Pas?
Mr Higgs and his cohorts don't care the "Golden Rule" to them is "He With the Gold Makes The Rules" N'esy Pas?
Matt Steele
Higgs certainly has his work
cut out for himself in trying to clean up Brian Gallant's mess ; but at
least Higgs did save the taxpayers a 130 MILLION on the the Francophonie
Games scam ; so maybe there is still hope that Higgs can turn N.B.
around . No doubt the SANB controlled Liberal Party will fight him
every inch of the way as special interest groups hate to lose their
place at the taxpayer funded trough .
Paul Bourgoin
@Matt Steele
You know I read your comment and Man you are way out in left field. As a province we should stand as one but there are those who divide and pocket the money during the fabricated discord. It is about those who benefit, pocket the money not those who pay. At the end of the day our children are in-debt and our resources are gone and they still are playing the same game.!
You know I read your comment and Man you are way out in left field. As a province we should stand as one but there are those who divide and pocket the money during the fabricated discord. It is about those who benefit, pocket the money not those who pay. At the end of the day our children are in-debt and our resources are gone and they still are playing the same game.!
David R. Amos
@Paul Bourgoin I Wholeheartedly Agree Sir
Douglas James
The Liberals underestimated
it because they were too focused on spend, spend, spend. On the wrong
things. Its natural that Higgs would focus on the province's dire
financial straits as this is his comfort zone and he will likely only be
willing to stray out of it when and if he gets a majority. Then, it'll
likely be back to same old, same old. Lots of spending...on the wrong
things.
eddy watts
@Douglas James Higgs was in
Office before (Alward)....Stats are easy to find for this
period......economic growth? minus jobs created minus..........Grad
students leaving the province was 2X that of N.S. over the same time
period. Don't hold your breath waiting for positive growth. CUTS now
that's another story, but that didn't out very work the last time Higgs
was in government, but IT IS ALL THE CONS KNOW.
David R. Amos
@eddy watts YUP
Lou Bell
Wondering why the Liberal forecast was so low ? They had 130 million dollars they had to salt away
for their Games ! Outta sight , outta mind !
for their Games ! Outta sight , outta mind !
David R. Amos
@Lou Bell You may be correct
Errol Willis
Would love to see the tuition deduction returned to us after the Liberals stole it away.
Harold Benson
@Errol Willis Lets go one better and have no tuition at all.
David R. Amos
@Harold Benson I disagree
Harold Benson
smoke and mirrors. keep your eyes off his hands.
David R. Amos
@Harold Benson YUP
Jake Quinlan
""With the first wave of the
large baby boom generation reaching the age of 73 this year, "we're
barely seeing the tip of the iceberg in terms of aging-related spending
on health," he said.""
This is going to define the economy in the next 15 years. Should be an interesting ride.
This is going to define the economy in the next 15 years. Should be an interesting ride.
David R. Amos
@Jake Quinlan Welcome to the Circus
Jim Cyr
Every time New Brunswickers get a taste of financial sanity, they rush back into the arms of the Liberals.
Expect the same to happen this time........
Expect the same to happen this time........
eddy watts
@Jim Cyr Financial
sanity....under the prior Conservative Alward (Higgs) government??? Are
there any FACTS to support this. Not talking about cutting services
either,as this is all the Cons seem to accomplish. Show some data from
the Canadian Council of Business (or other) demonstrating economic
growth during Alward-Higgs time. Try to get back to me before 2050.
David Peters
@eddy watts
What services are worth destroying the entire economy for? Healthcare and education? Public transit? A free market system with real competition would do these things faster, better and cheaper...not to mention freedom of choice.
What services are worth destroying the entire economy for? Healthcare and education? Public transit? A free market system with real competition would do these things faster, better and cheaper...not to mention freedom of choice.
David R. Amos
@Jim Cyr Plus ça change, plus c'est la même chose N'esy Pas?
Colin Seeley
If health care is going to
become Canada’s financial “ Waterloo” due to aging and it’s costs for
Chronic Cares there are other places and models worth consideration.
NZ for exanple spends 40% less per capita on health care including Medicare. Imagine paying 40 % less personal tax to NB Govt for your health care in NB.
Their Medicare system covers Pharmacare and Dental for children and Physio.
Treatments for auto accidents are fully covered and because of that no lawsuits are permitted. There is a tax to pay for this.
How can this be possible one might say ?
1- there is a Co- Pay at the Family Doctor office of $25 . Waived for lower incomes and a yearly cap applies.
All charges for specialists and hospitals and diagnostic testing are fully covered just as in Canada.
2- Private insurance is permitted and accepted . Yes private goes faster.
But the waiting times for public and private are both better than Canada.
There is sometime to be said for accountability and common sense.
NZ for exanple spends 40% less per capita on health care including Medicare. Imagine paying 40 % less personal tax to NB Govt for your health care in NB.
Their Medicare system covers Pharmacare and Dental for children and Physio.
Treatments for auto accidents are fully covered and because of that no lawsuits are permitted. There is a tax to pay for this.
How can this be possible one might say ?
1- there is a Co- Pay at the Family Doctor office of $25 . Waived for lower incomes and a yearly cap applies.
All charges for specialists and hospitals and diagnostic testing are fully covered just as in Canada.
2- Private insurance is permitted and accepted . Yes private goes faster.
But the waiting times for public and private are both better than Canada.
There is sometime to be said for accountability and common sense.
David Peters
@Colin Seeley
Great comment!
"Treatments for auto accidents are fully covered and because of that no lawsuits are permitted."
Imo, lawsuits, with the crazy high awards and settlements, in the US, were done to over-whelm their private sector healthcare, so that gov't could take over that sector.
Great comment!
"Treatments for auto accidents are fully covered and because of that no lawsuits are permitted."
Imo, lawsuits, with the crazy high awards and settlements, in the US, were done to over-whelm their private sector healthcare, so that gov't could take over that sector.
Content disabled.
David R. Amos
@Colin Seeley "There is sometime to be said for accountability and common sense."
Methinks you should tell it to your buddy Mr Higgs in person because I doubt he reads the comment sections and you definitely didn't vote for me N'esy Pas?
Methinks you should tell it to your buddy Mr Higgs in person because I doubt he reads the comment sections and you definitely didn't vote for me N'esy Pas?
David R. Amos
@David Peters "Great comment! "
If so then why am I not permitted to reply to it?
If so then why am I not permitted to reply to it?
Al Bekirkey
@David R. Amos wrongthink david your social credit score has just lost another point
David R. Amos
@Al Bekirkey I am no socialist so why would I care?
Al Bekirkey
@David R. Amos the comment
that showed the satire was removed they dont want the people to know the
real world applications of a social credit score and thank goodness nb
showed the ndp the door
David R. Amos
@Al Bekirkey I was not joking
Al Bekirkey
@David R. Amos al because you
dont believe in the things that go bump in the night does not mean they
are not their and pressing the day
Al Bekirkey
@Al Bekirkey well cbc wont
allow discourse arguing against collectivism and authoritarianism so we
really cant have a real conversation so bless you in your travels
David R. Amos
@Al Bekirkey FYI I am
traveling to Saint John next week with my friend Roger Richard (Who ran
in the last election against Kevin Arseneau) we will attend a EUB
hearing as Interveners about NB Power rates We don't care about the
things the things that go bump in the night We deal with what is on the
table today. Its public hearing Perhaps you should consider attending
or downloading the transcript later?
Al Bekirkey
@David R. Amos perhaps i will good luck
Roger Richard
@Al Bekirkey It will be a pleasure to meet you.
David R. Amos
@Al Bekirkey Roger and I
https://www.cbc.ca/news/canada/new-brunswick/eub-hearings-nb-power-smart-meters-1.4529640
https://www.cbc.ca/news/canada/new-brunswick/eub-hearings-nb-power-smart-meters-1.4529640
eddy watts
(Politicians!!!!!!) He
obviously knew that he couldn't fulfill those promises he made....but
made them anyway. No different than Gallant or the government
(Alward-Conservatives) he was a part of . Say anything, do anything to
get elected.....I'm still waiting to see all those companies (jobs) that
located to Saint John during Higgs (Alward) time in office......NONE!.
Maybe all that is going to change....yea like this year's promises!!
David R. Amos
@eddy watts YUP
David Peters
They tax income AND spending
to the point where ppl pay half their paychecks to taxes. Property
taxes and fuel taxes are astronomical in many places.
How is it that gov't isn't awash in money?
How is it that gov't isn't awash in money?
David R. Amos
@David Peters Methinks taxation passed the halfway mark for many folks long ago N'esy Pas?
ByronMcLean
Economics is a game of
guessing - too influenced by people's/governments' reactions to events,
etc, to be a true science. Not sure where they got this guy but IAC,
according to economics 101; you don't improve your financial situation
by continuing to spend more than you bring in.
David R. Amos
@ByronMcLean I agree
Paul Bourgoin
Premier Blaine Higgs is in an
awkward political position with a less than a majority government I
believe he is well intentioned but one must remember that the road to
Hxxx is paved with good intentions.
David R. Amos
@Paul Bourgoin I disagree
Methinks many would agree with me in that Mr Higgs is playing a wicked game for the benefit of the Irving Clan N'esy Pas?
Methinks many would agree with me in that Mr Higgs is playing a wicked game for the benefit of the Irving Clan N'esy Pas?
Paul Bourgoin
@David R. Amos
So you believe he follows given instructions from those who never have enough?
So you believe he follows given instructions from those who never have enough?
David R. Amos
@Paul Bourgoin YUP
Al Bekirkey
if we were able to borrow
from the bank of canada at straight interest instead of private banks we
could flip our debt from compound interest to straight interest and
then be able to satisfy the debt and guess who gets the interest
payments well the people of canada with the current system debt will
continue to grow and cannot be satisfied ever pierre trudeau set this
system up and no one has changed it since a couple of presidents tried
to change it in the states lincoln got shot jackson got shot at and well
jfk met his demise some time after he did the same its serious business
and big bankers play for keeps look at crete and greece were they
started buying up islands check paul hillier plan and comer vs bank of
canada also a good ref is rbc and scotiabank vs bank of canada i think
that ruled you cannot satisfy the a debt with a promisary note
David R. Amos
@Al Bekirkey I agree but I
have better idea than that My plan would get us out of debt immediately
and provide security for many worried New Brunswickers. I explained t
during a debate in the last election and on TV as well and to date
nobody will argue the simple solution particularly Mr Higgs
Buford Wilson
Blaine wasted no time in slaying the deficit.
Watch for explosive economic growth to result in higher government revenue.
We may see the premier reduce tax rates next year.
Watch for explosive economic growth to result in higher government revenue.
We may see the premier reduce tax rates next year.
David R. Amos
@Buford Wilson Methinks Mr Higgs just picked up where the liberals left off and a few cuts to win support N'esy Pas?
herbie derbie
Mr higgs is taking credit for
a balanced budget that he had no control over, last year there was a 67
million surplus and the deficit for the 2018 fiscal year was projected
at 133 million but wait revenue was up and mr higgs then cancelled every
project in new Brunswick except for a few in his held ridings.. Yes we
will keep a balance budget this year as there will be no amount of new
spending only patching around our province then in 2020 to 2021 he will
have so much pressure from his caucus he will have to spend no wait who
am I kidding the pastor will make sure hes gone before then...
David R. Amos
@herbie derbie "Mr higgs is taking credit for a balanced budget that he had no control over"
True
True
Claude DeRoche
Did the Irving COR party boy take into account the $3 billion in equalization transfers
he will return to Ottawa when New Brunswickers will refuse fracking?
he will return to Ottawa when New Brunswickers will refuse fracking?
David R. Amos
@Claude DeRoche Methinks you don't even live in New Brunswick N'esy Pas?
Rosco holt
@David R. Amos
Higgs did shot his mouth off about transfer payments and resource development in the past months. Even braindead Bernier applauded him for that position.
Higgs did shot his mouth off about transfer payments and resource development in the past months. Even braindead Bernier applauded him for that position.
https://twitter.com/DavidRayAmos/with_replies
David Raymond Amos @DavidRayAmos
I have often wondered if Higgs and the others read the comment sections
Survey Says?
https://davidraymondamos3.blogspot.com/2019/02/i-have-often-wondered-if-higgs-and.html
Survey Says?
https://davidraymondamos3.blogspot.com/2019/02/i-have-often-wondered-if-higgs-and.html
https://www.cbc.ca/news/canada/new-brunswick/state-of-the-province-balanced-budget-1.5001073
Higgs proclaims New Brunswick deficit-free in first State of the Province address
Comments
Commenting is now closed for this story.
Commenting is now closed for this story.
Content disabled.
David R. Amos
I have often wondered if Higgs and the others read the comment sections
Survey Says?
Survey Says?
David R. Amos
Methinks Mr Higgs is popular
today because everything political is always about the money. Hence his
talk of balanced budgets sounded wondrous. However when the wine runs
out and reality sets in it will be back to the same old same old. I
doubt Higgs and his cohorts will win the next mandate in an election
that can't come soon enough for a lot of folks if Vickers steps up to
the plate N'esy Pas?
Emilien Forest
As I look at one of the
picture I noticed four empty bottles of wine for eight people. I wonder
how many people drove home impaired after the event?
Toby Tolly
@Emilien Forest
have your eyes checked
have your eyes checked
Marguerite Deschamps
@Toby Tolly, why? I see four bottles too. At least three out of the four are already empty.
Lou Bell
@Emilien Forest Probably Liberals drowning their sorrows .
Steve Gordon
@Marguerite Deschamps And
there are 5 people at the table and at least 2 empty seats which could
be people who are now standing around socializing.
Emilien Forest
@Toby Tolly
Counting is something even children can do. Can you? The tables they are sitting at holds eight people and there are four bottles of wine at the table.
Counting is something even children can do. Can you? The tables they are sitting at holds eight people and there are four bottles of wine at the table.
David R. Amos
@Marguerite Deschamps
Methinks Higgs and his cohorts may as well eat and drink and be merry
before they lose their French Lieutenant and/or the support of the PANB
and their minority mandate dies N'esy Pas?
David R. Amos
@Emilien Forest Methinks Mr
Urquhart's old buddies in the Fat Fred City Finest will never bite the
hand that feeds. Their fancy part time jobs as Aide de Campe help pump
up their pension plan bigtime N'esy Pas?
Albert Wade
If this actually happens then
Koodo to Mr Higgs and parties that supported him. Now bring the toll
back on the highway to start reducing the debt.
David Peters
@Albert Wade
Tolling ferries and roads is a good idea, only after all the hidden fuel taxes are removed.
Tolling ferries and roads is a good idea, only after all the hidden fuel taxes are removed.
Tim Locke
@Albert Wade
On the borders at a minimum.
On the borders at a minimum.
Bob Stanley
@Tim Locke @Albert Wade
I have always said that since we are a pass through province we should put up tolls on the PEI, Nova Scotia, US, and Quebec borders charging non residents coming into New Brunswick that use our roads, and anyone from New Brunswick would be exempt from paying tolls.
I have always said that since we are a pass through province we should put up tolls on the PEI, Nova Scotia, US, and Quebec borders charging non residents coming into New Brunswick that use our roads, and anyone from New Brunswick would be exempt from paying tolls.
Albert Wade
@Bob Stanley Removing the toll cost us $1 billion in debt plus interest.
Marc Martin
@Albert Wade
Its actually Bernard Lord a Conservative who removed it by the way...
Its actually Bernard Lord a Conservative who removed it by the way...
David R. Amos
@Marc Martin Methinks you
don't know the history of the government your work for N'esy Pas? All
the other liberals know that the toll never went away Bernie Lord made
it a shadow poll which is paid by all the taxpayers instead of the
people who use the road
Mack Leigh
Now Sir show true integrity
and do an investigation into the Francophonie Games Fiasco.... It stinks
to high heavens and the best way to avoid fiasco's like this in the
future is to find out how, when, why and who is responsible for
this..... and if necessary to hold them accountable...Otherwise the gong
show in this province will just continue...
Colin Seeley
@Mack Leigh
It’s simple. It was about to be another Atcon by a few Greedy Liberals who were connected to Dom and Gallantism.
Let it go.
Have a feeling though flogging this into language and culture is likely your MO in a Cain attempt to favour the clans.
It’s simple. It was about to be another Atcon by a few Greedy Liberals who were connected to Dom and Gallantism.
Let it go.
Have a feeling though flogging this into language and culture is likely your MO in a Cain attempt to favour the clans.
David R. Amos
@Mack Leigh Otherwise the gong show in this province will just continue...
Methinks the circus will continue I suspect that you have no doubts about it either N'esy Pas?
Methinks the circus will continue I suspect that you have no doubts about it either N'esy Pas?
eddy watts
Reading a lot about how we'll
now be able to attract new business and keep our grads here because of
all the new jobs coming our way: This is Blaine Higgs....(have you
forgotten already...I guess so). HE WAS THE PREMIER NOT VERY LONG
AGO!!!!: Can anyone name some of the big companies he attracted
previously. And please don't bother trying to explain why the exodus of
university students was double in NB compared to NS......When will
people stop believing in fairytales? I guess this is part of the reason
N.B. ranks almost dead last in economic prospects (Canadian Business
Council)
Tara Siobhan
@eddy watts Blaine Higgs was never premier before.
Colin Seeley
@eddy watts
You are confused perhaps.
It wasn’t that long ago that we had a fellow who proclaimed and promised 10,000 new jobs by 2018.
It was that guy. Gallantism.
Blaine is the real deal.
Freebies will be over though.
You are confused perhaps.
It wasn’t that long ago that we had a fellow who proclaimed and promised 10,000 new jobs by 2018.
It was that guy. Gallantism.
Blaine is the real deal.
Freebies will be over though.
Mike Irvine
@eddy watts No, its that Liberal attitude that you have on display
Marc Martin
@eddy watts
Wow Eddie you've got strong CoRservative supporters at your back !! they are all like that by the way they drink the blue kool aid and they are painted blue right trough their panties !!!
Wow Eddie you've got strong CoRservative supporters at your back !! they are all like that by the way they drink the blue kool aid and they are painted blue right trough their panties !!!
David R. Amos
@Marc Martin Cry me a river
Buford Wilson
I knew he could do it.
Blaine is setting the table for a prosperous future in New/Nouveau-Brunswick.
Be in this place.
Blaine is setting the table for a prosperous future in New/Nouveau-Brunswick.
Be in this place.
Andre Paquin
@Buford Wilson
As a former NBer, I am pleased that your Provence's electorate made the right choice and put the adults in charge. We can only hope that Canada will do the same and punt the Libs out in October .
As a former NBer, I am pleased that your Provence's electorate made the right choice and put the adults in charge. We can only hope that Canada will do the same and punt the Libs out in October .
Harold Benson
@Buford Wilson You're serious, aren't you..
David R. Amos
@Buford Wilson Yea Right
Tim Raworth
I am not a PC fan but I will
give him a little credit for now. Lets see if he will do something to
make our other leaders [Irving clan] pay more taxes. I am not holding my
breath.
David Peters
@Tim Raworth
How about we all pay far less tax instead...then banning monopolies and breaking up the ones that exist. There are anti competition laws on the books already.
How about we all pay far less tax instead...then banning monopolies and breaking up the ones that exist. There are anti competition laws on the books already.
@David Peters I dont mind
paying my fair share of taxes. My moon cratered road will need a major
make over this spring and it has to be paid for some how. I do have a
problem with things like the news story some time ago where the Tim
Hortons in SJ is paying more property tax than the Irving rail yard
directly across the street.
Shawn McShane
@David Peters Saint John
Regional Hospital is assessed at $256.2 million but the 300,000-barrel
per day Irving Oil refinery is assessed at $98.6 million...
David R. Amos
@David Peters Dream on
Chantal LeBouthi
Are you going to clean and put salt on NB road before someone died Mr. Higgs or what
Seamus O'hern
@Chantal LeBouthi ....is that a question?....oh dear....or what?
Shawn McShane
@Seamus O'hern Some of the Hwys and roads are very bad. People are scared. They are calling them Highways from hell.
Les Cooper
@Chantal LeBouthi it's to cold for salt to be effective at moment
Harold Benson
@Chantal LeBouthi You didn't
hear? Molasses and beet juice works better than salt and sand, another
"improvement ", didn't you notice....(loling)
Harold Benson
@Les Cooper Untrue
@Chantal LeBouthi Methinks Mr
Higgs should take my suggestion and expropriate the brand new potash
mine in Sussex that just got written off and put New Brunswick back in
the business of producing salt N'esy Pas?
Pat Chambers-Dalpe
Wow , I have swamp land in
Florida for all you believers .. The Conservatives only know how to cut
everything we value ,, Healthcare, Education , Infrastructure , .. Can't
wait till March to see how screwed we really are..
Darren J Taylor
@Pat Chambers-Dalpe contrary to liberal belief, you cannot tax and spend a province into prosperity.
David R. Amos
@Pat Chambers-Dalpe "Can't wait till March to see how screwed we really are"
Me Too
Me Too
Joseph Vacher
Sucks to be Roland godin or Marc Martin right about now
Cleve Gallant
@Joseph Vacher They’re on the
phone right now talking to Brian Gallant and Victor Boudreau, But I’m
sure they’ll be back spreading fake news again,
David R. Amos
@Joseph Vacher YUP
Harold Benson
N.B., the only place in the world where they get worried about debt....and how are we making out, being so obsessed with it ?
David R. Amos
@Harold Benson Methinks Sam is gonna be upset with you writing that N'esy Pas?
Steve Murray
Blah...blah..blah...austerity budget big deal!...smoke screen for dirty oil and fracking agenda to appease his Irving overlords.
David R. Amos
@Steve Murray YUP
PCs promise balanced books, but harsh realities may bring out red ink again
Economist questions long-term sustainability of balanced budgets
New Brunswick is back in the black, but the province's new deficit-free status may not be here to stay.
Premier Blaine Higgs announced Thursday that the Progressive Conservative government will have a balanced budget this year and another one next year.
With a small Liberal surplus of $67 million last fiscal year, that will mean three straight years of black ink.
But Higgs was cagey on whether his government will stay out of deficit in the long term.
"We're balancing," he said. "I just don't know how long I'm going to be there. I can't hold someone else accountable, but I can hold myself accountable."
That
may have been a nod to Higgs being at the head of a minority
government, but it's also a wise caveat that recognizes troubling
long-term fiscal trends, according to economist Richard Saillant.
Saillant said the factors creating this year's balanced budget are temporary, and deficits could easily return unless there are difficult cuts in the future.
"It's kind of logical the books would be balanced for this year," he said.
Saillant said Higgs caught a break with revenues far higher than what the previous Liberal government was projecting when it forecast a $188 million deficit for 2018-19.
"For reasons I still don't get fully, the [Liberal] revenue forecast was well below what was reasonable to expect," he said.
Premier Blaine Higgs announced New Brunswick is deficit-free. (Stephen MacGillivray/Canadian Press)
The
Liberals projected $165 million in revenue growth this year, but
federal transfer payments alone are increasing by $143 million, Ottawa
announced in December.
With modest economic growth continuing to generate more income tax and sales tax on top of federal transfers, "this year and the next, [balanced budgets are] going to be easy without doing much," Saillant said.
After that, it's going to become more challenging.
Higgs promised during the election campaign to eliminate the deficit by his government's second budget, due in the spring of 2020.
But that may actually be when the PC premier's good luck starts to run out, Saillant said.
The growth in federal transfers comes mainly from Ontario's booming economy removing it from the equalization-payment pie, a shift that left larger slices of cash for the remaining have-not provinces.
Saillant said that's a one-time shift, so transfer growth will level off in a year or two — even as demands for more spending will continue to pile up.
With the first wave of the large baby boom generation reaching the age of 73 this year, "we're barely seeing the tip of the iceberg in terms of aging-related spending on health," he said.
"Whether they can remain on track in future years without future [restraint] initiatives, that's a much more debatable issue."
Economist
Richard Saillant says the levelling out of federal transfers and
increased health spending could spoil a string of balanced budgets. (CBC)
Dieppe
Liberal MLA Roger Melanson defended the low revenue forecast in his
party's last budget, saying it was "the best-educated forecast" at the
time, taking into account uncertainty about trade agreements and
softwood lumber exports.
"You can never do that 100 percent sure when you do the budget, because it's a very complicated formula. So you do an estimate, based on history," he said.
Travis Shaw, a vice-president at the Dominion Bond Rating Service — which warned last year that it might downgrade New Brunswick's credit rating — said a balanced budget this year is good news.
"On the surface, on the fiscal front, this is encouraging relative to what we had previously understood the situation to be," he said.
But he also warned that the long-term picture is more important for the province's debt rating.
The federal transfers boosting the revenue this year are outside the provincial government's control, but spending is something it has the power to curtail.
"We'll want to see how well the province is adhering to their targets in that regard."
A credit downgrade could translate into the province paying higher interest rates on the money it borrows. The rating service warned last year that the province's fiscal trend was "negative" and said that could lead to an eventual downgrade.
Shaw said the agency will wait until after the March 19 budget to decide on New Brunswick's rating.
CBC's Journalistic Standards and PracticesPremier Blaine Higgs announced Thursday that the Progressive Conservative government will have a balanced budget this year and another one next year.
With a small Liberal surplus of $67 million last fiscal year, that will mean three straight years of black ink.
But Higgs was cagey on whether his government will stay out of deficit in the long term.
"We're balancing," he said. "I just don't know how long I'm going to be there. I can't hold someone else accountable, but I can hold myself accountable."
Saillant said the factors creating this year's balanced budget are temporary, and deficits could easily return unless there are difficult cuts in the future.
"It's kind of logical the books would be balanced for this year," he said.
Higher revenues
Saillant said Higgs caught a break with revenues far higher than what the previous Liberal government was projecting when it forecast a $188 million deficit for 2018-19.
"For reasons I still don't get fully, the [Liberal] revenue forecast was well below what was reasonable to expect," he said.
With modest economic growth continuing to generate more income tax and sales tax on top of federal transfers, "this year and the next, [balanced budgets are] going to be easy without doing much," Saillant said.
After that, it's going to become more challenging.
Higgs promised during the election campaign to eliminate the deficit by his government's second budget, due in the spring of 2020.
But that may actually be when the PC premier's good luck starts to run out, Saillant said.
More spending to come
The growth in federal transfers comes mainly from Ontario's booming economy removing it from the equalization-payment pie, a shift that left larger slices of cash for the remaining have-not provinces.
Saillant said that's a one-time shift, so transfer growth will level off in a year or two — even as demands for more spending will continue to pile up.
With the first wave of the large baby boom generation reaching the age of 73 this year, "we're barely seeing the tip of the iceberg in terms of aging-related spending on health," he said.
"Whether they can remain on track in future years without future [restraint] initiatives, that's a much more debatable issue."
"You can never do that 100 percent sure when you do the budget, because it's a very complicated formula. So you do an estimate, based on history," he said.
How does this affect our credit rating?
Travis Shaw, a vice-president at the Dominion Bond Rating Service — which warned last year that it might downgrade New Brunswick's credit rating — said a balanced budget this year is good news.
"On the surface, on the fiscal front, this is encouraging relative to what we had previously understood the situation to be," he said.
The federal transfers boosting the revenue this year are outside the provincial government's control, but spending is something it has the power to curtail.
"We'll want to see how well the province is adhering to their targets in that regard."
A credit downgrade could translate into the province paying higher interest rates on the money it borrows. The rating service warned last year that the province's fiscal trend was "negative" and said that could lead to an eventual downgrade.
Shaw said the agency will wait until after the March 19 budget to decide on New Brunswick's rating.
Higgs proclaims New Brunswick deficit-free in first State of the Province address
Premier Blaine Higgs said the 2019-20 budget will also be balanced
New Brunswick is deficit-free this year
and will have balanced budgets in the next two fiscal years as well,
Premier Blaine Higgs announced Thursday night.
The new Progressive Conservative premier used his first State of the Province speech to reveal that his government has managed to eliminate a projected $131-million deficit in the current 2018-19 fiscal year.
That's despite taking power Nov. 9, more than halfway through the year.
He said the 2019-20 budget, to be tabled in the legislature March 19, will also be balanced.
That
means Higgs is hitting his deficit-elimination target two years early.
In last year's provincial election campaign, he promised a balanced
budget in 2020-21.
"We wanted to show we could solve the problem here in New Brunswick with the tremendous workforce that we have in the civil service working for us each and every day," Higgs said in his speech at a dinner hosted by the Fredericton Chamber of Commerce.
"If higher transfer payments do arrive, we will have the happy choice of lowering taxes, paying down debt,or improving our education system."
New Brunswick Premier Blaine Higgs is hitting his deficit-elimination target two years early. (CBC)
That included a planned new courthouse in Fredericton, a new New Brunswick Museum in Saint John and a new school in the west end of Moncton.
The previous Liberal government ran a $67-million surplus in 2017-18 but had projected a $188-million deficit for the current year, a projection that was updated to $131 million last fall.
Higgs has said his top priority as premier is to eliminate the deficit as quickly as possible to avoid credit agencies downgrading the province's credit rating. A lower rating would force the province to pay higher interest rates on its accumulated debt, which is now above $14 billion.
"A downgrade in our credit overnight means that we spend hundreds of millions more to borrow money — and to service the debt we already have," he said in the speech.
The premier repeated his now familiar message that he'll avoid the temptation to spend tax dollars to make himself and his government more popular — though he didn't mention his cancellation this week of the Francophonie Games.
Higgs delivered his speech at a dinner hosted by the Fredericton Chamber of Commerce. (Gary Moore/CBC)
"We have already avoided some of the typical political games," he said. "Usually a new government rushes all of its projects and spending into the first year, so they can run up a bigger deficit and blame it on the past government.
"We did not do that," he said. "We sent a clear message to credit rating agencies and investors by controlling spending in this fiscal year."
He contrasted that with the
previous Liberal government, which he said increased spending by $1
billion over four years without any improvements in literacy scores,
poverty rates or surgical wait times.
Now, Higgs said, he is challenging New Brunswickers to embrace "a smaller and more responsive government" but also "a bigger sense of citizenship" that focuses on the province's long-term prosperity.
He also suggested he'll use New Brunswick's geographic position as leverage to persuade Quebec to support a revival of the cancelled Energy East oil pipeline.
Noting that Quebec is looking at new transmission lines that would let it sell its hydroelectricity into the United States, Higgs said allowing that electricity to pass through New Brunswick "won't be a one-way exchange."
"If provinces want access to our grids, or our territory, to move their stranded assets, I will expect equal concern from them for our economic future," he said.
Higgs also said the province will reform social assistance so the rules aren't too strict for people new to the system or "tolerant of those who have been in the system for years."
That could include the
government helping to pay for the travel of people on welfare in
outlying communities so they can get to workplaces where there are
shortages of employees. It could also mean helping with child care or
housing.
CBC's Journalistic Standards and Practices
The new Progressive Conservative premier used his first State of the Province speech to reveal that his government has managed to eliminate a projected $131-million deficit in the current 2018-19 fiscal year.
That's despite taking power Nov. 9, more than halfway through the year.
He said the 2019-20 budget, to be tabled in the legislature March 19, will also be balanced.
"We wanted to show we could solve the problem here in New Brunswick with the tremendous workforce that we have in the civil service working for us each and every day," Higgs said in his speech at a dinner hosted by the Fredericton Chamber of Commerce.
"If higher transfer payments do arrive, we will have the happy choice of lowering taxes, paying down debt,or improving our education system."
In its November throne speech, the PC government promised to eliminate
the small business tax and the so-called "double property tax" on
secondary properties — but Higgs said that wouldn't happen until the
deficit was gone.
The government's capital spending plan in December cancelled more than $200 million in planned infrastructure work in the coming year.
The government's capital spending plan in December cancelled more than $200 million in planned infrastructure work in the coming year.
That included a planned new courthouse in Fredericton, a new New Brunswick Museum in Saint John and a new school in the west end of Moncton.
The previous Liberal government ran a $67-million surplus in 2017-18 but had projected a $188-million deficit for the current year, a projection that was updated to $131 million last fall.
Fears for credit rating
Higgs has said his top priority as premier is to eliminate the deficit as quickly as possible to avoid credit agencies downgrading the province's credit rating. A lower rating would force the province to pay higher interest rates on its accumulated debt, which is now above $14 billion.
"A downgrade in our credit overnight means that we spend hundreds of millions more to borrow money — and to service the debt we already have," he said in the speech.
The premier repeated his now familiar message that he'll avoid the temptation to spend tax dollars to make himself and his government more popular — though he didn't mention his cancellation this week of the Francophonie Games.
"We have already avoided some of the typical political games," he said. "Usually a new government rushes all of its projects and spending into the first year, so they can run up a bigger deficit and blame it on the past government.
"We did not do that," he said. "We sent a clear message to credit rating agencies and investors by controlling spending in this fiscal year."
Not giving up on Energy East
Now, Higgs said, he is challenging New Brunswickers to embrace "a smaller and more responsive government" but also "a bigger sense of citizenship" that focuses on the province's long-term prosperity.
He also suggested he'll use New Brunswick's geographic position as leverage to persuade Quebec to support a revival of the cancelled Energy East oil pipeline.
Noting that Quebec is looking at new transmission lines that would let it sell its hydroelectricity into the United States, Higgs said allowing that electricity to pass through New Brunswick "won't be a one-way exchange."
"If provinces want access to our grids, or our territory, to move their stranded assets, I will expect equal concern from them for our economic future," he said.
Higgs also said the province will reform social assistance so the rules aren't too strict for people new to the system or "tolerant of those who have been in the system for years."
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