David Raymond Amos @DavidRayAmos
Replying to @DavidRayAmos @alllibertynews and 49 others
Go figure why Higgs and Holland are ignoring NB Power's wish to add another 100 million to our debt for "Not So Smart Meters" after the EUB had turned them down under Gallant's mandate
https://davidraymondamos3.blogspot.com/2019/09/new-brunswick-deep-in-black-again.html
https://www.cbc.ca/news/canada/new-brunswick/credit-nb-budget-surplus-1.5296734
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From: david.raymond.amos333@gmail.
Date: Thu, 26 Sep 2019 15:41:07 -0300
Subject: YO Mr Jones do ya Think Mr Higgs reads CBC ?
To: Robert.Jones@cbc.ca, blaine.higgs@gnb.ca, robert.gauvin@gnb.ca,
Kevin.Vickers@gnb.ca, brian.gallant@gnb.ca, Jack.Keir@gnb.ca,
greg.byrne@gnb.ca, jfurey@nbpower.com, wharrison@nbpower.com,
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Katie.Telford@pmo-cpm.gc.ca, pm@pm.gc.ca, srussell@nbpower.com,
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New Brunswick deep in the black — again
PCs may not be able to take all the credit for $72.6M budget surplus
Robert Jones · CBC News · Posted: Sep 26, 2019 6:00 AM AT
64 comments
David Raymond Amos
"Despite the surplus, New Brunswick's debt still grew slightly, by
$32.7 million, because of the ongoing addition of new capital assets."
Go figure why Higgs and Holland are ignoring NB Power wish to add
another 100 million to our deft for "not So Smart Meters" after the
EUB had turned them down under Gallant's mandate
PCs may not be able to take all the credit for $72.6M budget surplus
Robert Jones · CBC News · Posted: Sep 26, 2019 6:00 AM AT
64 comments
David Raymond Amos
"Despite the surplus, New Brunswick's debt still grew slightly, by
$32.7 million, because of the ongoing addition of new capital assets."
Go figure why Higgs and Holland are ignoring NB Power wish to add
another 100 million to our deft for "not So Smart Meters" after the
EUB had turned them down under Gallant's mandate
New Brunswick deep in the black — again
PCs may not be able to take all the credit for $72.6M budget surplus
But where the credit lies for the improvement is not entirely clear.
According to official figures released Wednesday and approved by Auditor General Kim MacPherson, the province posted a $72.6-million budget surplus in the 2018-2019 fiscal year.
It's the second budget surplus in a row in the province and the largest posted by a New Brunswick government in 11 years. It is also much bigger than the Progressive Conservative government had been expecting just six months ago.
In March, Finance Minister Ernie Steeves projected a much smaller $4.5-million surplus for the fiscal year ended March 31, but heralded even that modest amount as a significant achievement since the previous Liberal government of Brian Gallant originally budgeted for a $188.7-million deficit.
Blaine Higgs took over as premier from Gallant in November 2018, midway through the budget year.
"We are very proud of this accomplishment," Steeves told the legislature about the possibility of posting the $4.5-million surplus. "This has been accomplished through responsible management."
At $72.6 million, the actual budget surplus finished the year 16 times larger.
Progressive Conservatives have been giving themselves credit for improving finances by restraining government spending and cancelling major projects, but the audited figures also show the former Gallant government might have a claim on some of the accomplishment.
The largest event swinging finances in a positive direction last year was on the revenue side of the budget — not expenses — and involved the receipt from Ottawa of $235.6 million more in New Brunswick personal and corporate income taxes than expected.
According to the province's financial statements most of that windfall originated from amounts generated inside New Brunswick during Gallant's term that had been underestimated and unpaid to the province until he left office late in 2018.
"Personal income tax is up $104.7 million (from budget) due to a significant prior year adjustment related to the 2017 taxation year and a strengthened forecast base," reads the explanation of the revenue increase provided by the provincial comptroller's office.
Overall government expenses actually ended the year $8.5 million over budget.
Despite the surplus, New Brunswick's debt still grew slightly, by $32.7 million, because of the ongoing addition of new capital assets.
It's the 12th year in a row New Brunswick's debt has grown although the pace has slowed considerably. Increases in New Brunswick's debt of $1 billion per year were common earlier in the decade, including in 2010, 2011 and 2013.
Steeves has announced plans to post a third budget surplus in the current year and pay down a portion of the debt by fiscal year end in March 2020, for the first time since 2007.
According to official figures released Wednesday and approved by Auditor General Kim MacPherson, the province posted a $72.6-million budget surplus in the 2018-2019 fiscal year.
It's the second budget surplus in a row in the province and the largest posted by a New Brunswick government in 11 years. It is also much bigger than the Progressive Conservative government had been expecting just six months ago.
In March, Finance Minister Ernie Steeves projected a much smaller $4.5-million surplus for the fiscal year ended March 31, but heralded even that modest amount as a significant achievement since the previous Liberal government of Brian Gallant originally budgeted for a $188.7-million deficit.
"We are very proud of this accomplishment," Steeves told the legislature about the possibility of posting the $4.5-million surplus. "This has been accomplished through responsible management."
At $72.6 million, the actual budget surplus finished the year 16 times larger.
Liberals have claim
Progressive Conservatives have been giving themselves credit for improving finances by restraining government spending and cancelling major projects, but the audited figures also show the former Gallant government might have a claim on some of the accomplishment.
The largest event swinging finances in a positive direction last year was on the revenue side of the budget — not expenses — and involved the receipt from Ottawa of $235.6 million more in New Brunswick personal and corporate income taxes than expected.
According to the province's financial statements most of that windfall originated from amounts generated inside New Brunswick during Gallant's term that had been underestimated and unpaid to the province until he left office late in 2018.
"Personal income tax is up $104.7 million (from budget) due to a significant prior year adjustment related to the 2017 taxation year and a strengthened forecast base," reads the explanation of the revenue increase provided by the provincial comptroller's office.
Finance
Minister Ernie Steeves said the government is 'very proud of this
accomplishment,' but the PCs may have to share the credit. (CBC)
"Corporate income tax is up $130.9 million due to the improvement to both prior-year and in-year revenue reflecting stronger than expected 2017 assessments."
"Corporate income tax is up $130.9 million due to the improvement to both prior-year and in-year revenue reflecting stronger than expected 2017 assessments."
Overall government expenses actually ended the year $8.5 million over budget.
Despite the surplus, New Brunswick's debt still grew slightly, by $32.7 million, because of the ongoing addition of new capital assets.
It's the 12th year in a row New Brunswick's debt has grown although the pace has slowed considerably. Increases in New Brunswick's debt of $1 billion per year were common earlier in the decade, including in 2010, 2011 and 2013.
Steeves has announced plans to post a third budget surplus in the current year and pay down a portion of the debt by fiscal year end in March 2020, for the first time since 2007.
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81 Comments
Commenting is now closed for this story.
David Raymond Amos
"Despite the surplus, New Brunswick's debt still grew slightly, by $32.7 million, because of the ongoing addition of new capital assets."
Go figure why Higgs and Holland are ignoring NB Power wish to add another 100 million to our deft for "not So Smart Meters" after the EUB had turned them down under Gallant's mandate
Johnny Horton
Reply to @David Raymond Amos:
BecAuse people waste far too much power, and those thst do should be posing for the waste.
Lou Bell
Add that 110 million giveaway the Liberals planned on spending until they got caught , and whadda got ?? 142.7 million dollar deficit for 2018 ! Thank goodness the " drunken sailor " was put to rest !
David Raymond Amos
Reply to @Lou Bell:
FYI Your SANB buddy Marguerite Deschamps denied posting the comment
below after I posted that you two deserve each other while you two were
begging each other to croak etc. Methinks that you would agree that the
SANB dude should crawl under a rock N'esy Pas?
https://www.cbc.ca/news/canada/new-brunswick/higgs-new-brunswick-plan-priorities-1.5295651
"I can't think of anyone I would despise enough to think he deserves you."
https://www.cbc.ca/news/canada/new-brunswick/higgs-new-brunswick-plan-priorities-1.5295651
"I can't think of anyone I would despise enough to think he deserves you."
Lewis Taylor
NB can thank Ottawa for the surplus. Nothing in province happened to explain growth.
Ron Willis
Reply to @Lewis
Taylor: It was New Brunswickers’ tax money collected on its behalf by
the federal government. So no Ottawa doesn’t get any credit for giving
our own money back to us.
David Raymond Amos
Reply to @Ron Willis: I agree
Terry Tibbs
Why wait for spring, do it now! Write that cheque, pay down the debt, you know that money kicking around will only get spent.
David Raymond Amos
Reply to @Terry Tibbs: Methinks you should listen to what I said on Rogers TV during the last election N'esy Pas?
David Raymond Amos
Reply to @Terry Tibbs: I am the first one to speak
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