Friday 22 May 2020

New Brunswick reveals $300M deficit projection in better-than-expected fiscal update

https://twitter.com/DavidRayAmos/with_replies




Replying to @alllibertynews and 49 others
Methinks the Green Meanie leader who cannot be named and his 2 minions are never Happy Happy Happy but the PANB boss and his crew seem to be too fat dumb and happy N'esy Pas? 

https://davidraymondamos3.blogspot.com/2020/05/new-brunswick-reveals-300m-deficit.html







https://www.cbc.ca/news/canada/new-brunswick/covid-19-case-coronavirus-yellow-phase-1.5579981 



N.B. COVID-19 roundup: Province moves into phase 3 of recovery plan — in stages

Dr. Jennifer Russell announces no new cases of the respiratory virus


Elizabeth Fraser · CBC News · Posted: May 22, 2020 9:51 AM AT



Premier Blaine Higgs and chief medical officer of health Dr. Jennifer Russell give an update on New Brunswick COVID-19, the novel coronavirus. 0:00

Latest

  • Premier won't extend wage top-up to retail workers
  • No new cases of COVID-19
  • What to do if you have symptoms
New Brunswick is moving into phase three of its COVID-19 recovery plan, but it will take several weeks to implement, Premier Blaine Higgs announced Friday.

These changes on the new phase, know as the yellow phase, take effect immediately
  • New Brunswickers can extend their two-house bubbles and can spend time with family and friends outside their bubbles.
  • Naturopath businesses can reopen 
  • Barbers, hairstyles, aesthetician and spas can reopen   
"This does not mean the pandemic is over," said Dr. Jennifer Russell, the chief medical officer of health.


Russell is encouraging people to continue physical distancing and continue washing their hands."
"Please limit your close contact at all times."

Phase two of the province's recovery plan, also known as the orange phase, has been aimed at reopening businesses and activities, while still trying to prevent transmission of the virus.

No new cases of COVID-19

No new cases of COVID-19 were announced in the province on Friday.
There is still one active case of the respiratory virus in the Campbellton region, which is still under investigation.

Dr. Jennifer Russell said contact tracing is currently underway.


The total number of cases remains at 121, and 120 of those patients have recovered. No one with COVID is in hospital. Russell expects a second wave of the virus to happen, but she doesn't know when.

"We have to continue to move very carefully," Russell said.

Premier won't extend wage top-up to retail workers

Premier Blaine Higgs is defending his decision not to extend a wage top-up to retail workers from a federal program announced earlier this month for people working on the front lines during the coronavirus threat.

The province has identified several categories of workers earning $18 an hour or less to receive a monthly top-up of approximately $500 for 16 weeks for front-line workers.

The federal government is contributing $3 billion to the program nationally and the provinces $1 billion.

Higgs said Friday that New Brunswick has decided to funnel money to people working with vulnerable populations and in front-line health-care roles during efforts to stop the spread of COVID-19.


"Are we thinking at all about next year, or are we only thinking about today?" Higgs said during an interview with Information Morning Fredericton. 

"For me, it's not just about today."

New Brunswick workers eligible for the funding include employees in:
  • early learning and child care facilities
  • home support
  • special care homes, community residences and group homes
  • homeless shelters and food banks
  • domestic violence outreach and transition homes
The program does not include workers at grocery stores or other retail operations, which the province deemed as essential after the virus arrived in New Brunswick.

Meanwhile, neighbouring Prince Edward Island includes retail workers in its top-up program.

But Green Party Leader David Coon argued many essential workers who are deserving of the top-up weren't included in the program. 

 


Essential workers who earn less than $18 a day to get government top-up 1:19

"We should be recognizing that, and my hope is we'll do exactly that in a second phase but we'll have to wait," said Coon.

People's Alliance Leader Kris Austin agreed there is an appreciation for all essential workers, but the province's financial realities need to be taken into account.
He cited the economic update released Thursday, which included a $300 million deficit, a figure Austin described as a  "conservative" number.

"We're staring down a massive financial problem in New Brunswick, probably like we've never seen in our history. You have to be reasonable about what you do with your money now."

What to do if you have symptoms

People concerned they might have COVID-19 can take a self-assessment on the government website at gnb.ca.

Public Health says symptoms shown by people with COVID-19 have included: a fever above 38 C, a new cough or worsening chronic cough, sore throat, runny nose, headache, new onset of fatigue, new onset of muscle pain, diarrhea, loss of sense of taste or smell, and difficulty breathing. In children, symptoms have also included purple markings on the fingers and toes.

People with two of those symptoms are asked to:
  • Stay at home.
  • Call Tele-Care 811 or their doctor.
  • Describe symptoms and travel history.
  • Follow instructions.

With files from Jordan Gill



CBC's Journalistic Standards and Practices
 




174 comments
Commenting is now closed for this story.





David Amos
Methinks the Green Meanie leader who cannot be named and his 2 minions are never Happy Happy Happy but the PANB boss and his crew seem to be fat dumb and happy N'esy Pas?








 

David Amos 
Too Too Funny The headline has changed again Methinks Higgy et al would agree that I am the last political opponent of theirs who would ever care about getting a haircut N'esy Pas? 


Tony Mcalbey
Reply to @David Amos: another flip flop coming next week methinks N’esy Pas?


David Amos 
Reply to @Tony Mcalbey: Methinks the PANB and the Green Meanies will flip when the Queen flops down the writ N'esy Pas?


Ray Oliver
Reply to @David Amos: Oh that is too funny because the articles are written with you only in mind. No one cares about your hair gandalf


Lou Bell
Reply to @David Amos: Political Opponent ? Really ? Less than 20 votes per election doesn't make you an opponent ! Makes you a " last place finisher " at best !
Lou Bell
Reply to @Lou Bell: I've never even run before and you still only beat me by less than 20 votes !
David Amos
Reply to @Lou Bell: Methinks you should have had your lawyer verify results with Elections Canada before you posted so many false statements against me N'esy Pas?


Sherri Brown
Reply to @Lou Bell: I ran last night, fast!! A skunk was stalking me................... lmao


Patsy O'Brien
Reply to @David Amos: Seriously? Is there some way I can block you?






 

















SarahRose Werner
I see that the CBC has switched to a more positive headline: "You can all get your hair cut and see more friends now." Points for trying, I guess. I cut my hair myself a few weeks back, and what I *really* want to know is, when I can I access the reference section at the library again? But it's summer and I've got plenty else to do, so I can be patient.


Lou Bell
Reply to @SarahRose Werner: Maybe write a book . Call it " All About Me , The Story Of Dave


David Amos
Content disabled 
Reply to @Lou Bell: Methinks your hero Higgy would hit the bottle, his minion Cardy would swear off his butter tarts and turn to provincially licensed edibles while DesChamps would nearly die laughing if you ladies turned into fans of mine N'esy Pas? 



Ray Oliver
Reply to @Lou Bell: Correction. "All About Me, The Story of DAVES". There are a few of them swimming around up there.




N.B. COVID-19 roundup: You can all get your hair cut and see more friends now

Dr. Jennifer Russell announces no new cases of the respiratory virus

Elizabeth Fraser · CBC News ·











https://twitter.com/DavidRayAmos/with_replies




Replying to @alllibertynews and 49 others
Methinks I smell a writ about to dropped and that my brother's old buddies in the Bank of Nova Scotia were correct when they suggested its much worse than what Higgy et al claim N'esy Pas?


https://davidraymondamos3.blogspot.com/2020/05/new-brunswick-reveals-300m-deficit.html


https://www.cbc.ca/news/canada/new-brunswick/new-brunswick-financial-update-deficit-covid-19-1.5579818




New Brunswick reveals $300M deficit projection in better-than-expected fiscal update

N.B. finances battered but not broken by pandemic, but finance minister cautions again more relief spending


Robert Jones · CBC News · Posted: May 22, 2020 6:00 AM AT



Finance Minister Ernie Steeves is standing by his department's new estimate of a $299.2-million budget deficit this year, despite private-sector forecasts that predict much worse. (Mike Heenan/CBC)

New Brunswick's financial situation has been deteriorating in the wake of the COVID-19 pandemic but not as severely as a number of private forecasts have been suggesting.

In a special fiscal update released Thursday, New Brunswick's Department of Finance revealed it is now projecting a $299.2-million deficit for the current year, rather than the $92.4-million surplus announced when the budget was presented to the legislature March 10.

That's a $392-million change for the worse, but Finance Minister Ernie Steeves did not rule out the possibility the new estimate might also be overtaken by events like the original projection.


"We are facing a situation unlike anything we have experienced before," said Steeves in a statement released with the update.

"The impacts of the pandemic are only beginning to be understood, and it will take more time to fully comprehend the effects on our economy and our finances."


Restaurants have been shut tight in New Brunswick for two months except for take out and some like Saint John's Taco Pica have closed for good. Still, the province believes business and sales taxes will decline only marginally. (Graham Thompson/CBC)

Although the deficit would be the highest in New Brunswick in six years and represents a serious deterioration from original projections, it is not nearly as dire as private-sector estimates have been suggesting it would be.

In late April the Royal Bank of Canada estimated New Brunswick was headed for a $600-million deficit based on the trajectory of the economy and last week the Bank of Nova Scotia suggested much worse than that.

It estimated New Brunswick's budget shortfall would reach $1.19 billion this year, four times worse than the government's new estimate.
In an interview, Steeves said he's comfortable with his department's analysis.


"I have all the faith in the people I work with. The staff is outstanding and nobody knows New Brunswick like New Brunswickers," he said.

Estimated revenue losses not as dire

Provincial finance officials are especially more bullish than private forecasters about COVID-19's effect on key revenue sources, including both income and sales taxes.

Despite an estimated 49,600 people losing their jobs in New Brunswick since February and most retailers closed tight for two months, the province is projecting only a minor 3.7  per cent reduction in corporate and personal income tax revenue from original budget estimates and a 4.6 per cent reduction in HST revenue.

It's a combined $155-million cut, but nothing like the $1-billion hit other estimates were hinting at.
 

Federal government measures to limit economic problems caused by COVID-19 — like monthly $2,000 Canada Emergency Response Benefit payments to affected people by the Canada Revenue Agency — are helping keep incomes and spending up, according to the province. (Adrian Wyld/THE CANADIAN PRESS)

Canada's parliamentary budget officer was modelling national reductions as high as 20.2 per cent in income taxes and 34.8 per cent in sales tax (GST) from pre-COVID estimates in an analysis published three weeks ago.

Steeves said the federal government, which collects both income and sales taxes for New Brunswick, was involved in New Brunswick's analysis and it shows national and provincial wage replacement measures have helped keep incomes and spending elevated enough to limit significant losses of tax revenue.


"I am confident. If anything, staff is a little on the conservative side in their predictions," said Steeves.

"We're expecting to land at a $300-million deficit."

Steeves cautions against more relief spending

Another factor keeping the deficit down has been the province limiting its own COVID relief spending to $100 million, just one per cent of its total budget. It's the smallest allocation being made by any province, according to the Bank of Nova Scotia, and will be a point of contention among opposition parties when the legislature sits next week.

Steeves said the smaller-than-expected deficit does not change plans to limit COVID relief spending by the province.

"The job is to provide a better New Brunswick for our kids," he said. "I don't want to saddle kids with crushing debt. So that's the plan, to save what we can and try and work through it."
 

New Brunswick finance officials estimate the loss of gaming revenues, largely caused by the closure of video gambling sites by the Atlantic Lottery Corporation, will cost it $89.9 million this year — more than reductions in corporate and personal income taxes. (Robert Jones/CBC)

The update shows the single largest drop in revenue to the province, more than personal and corporate income tax reductions combined, is projected to come from casino and video lottery gaming.

Atlantic Lotto was forced to shut all of its video lottery terminals in the province on March 15 and that, along with the shuttering of Casino New Brunswick, is expected to cut revenues by $89.9 million.



CBC's Journalistic Standards and Practices





55 Comments
Commenting is now closed for this story.





David Amos
Methinks if "The Powers That Be" in NB had taken my advice during the last provincial election by guaranteeing the pensions and paying the short fall from general funds after paying down our debt with the pension funds Vestcor is playing with then New Brunswick would be sitting pretty right now in comparison to the the rest of the world N'esy Pas? 


Lou Bell
Reply to @David Amos: If you had any understanding you know the funds are handled by Vestcor , a private corporation the Provincial Government has NO ACCESS to whatever so that they can no longer dip into it whenever they see fit ! Protecting the pensions from government has long been a problem , of which it no longer is ! Vestcor also handles other pension funds and not just anyone can " dip into it " whenever they like!


David Amos 
Reply to @Lou Bell: Methinks your lawyer forgot to tell you that Higgy created Vestcor or of the lawsuits pertaining to his actions. Trust that a provincial act can rub it out just as easily. I bet lots of voters remember the summer of 2006 when Bernie Lord fired the entire PUB and then the liberals appointed their buddies to the EUB he created after your hero lost that election which i also ran in N'esy Pas?


Lou Bell
Reply to @David Amos: But , you were wrong ! They ARE a private Corporation , handling the pension funds of many other funds , and no I doubt the government can just " create an act to rub it out " ! As someone who has UNSUCCESSFULLY run for office MANY , MANY times you should know this as much as anyone running for office !


























David Amos
Methinks I smell a writ about to dropped N'esy Pas?  


Ben Haroldson
Reply to @David Amos: Hopefully.


David Amos
Reply to @Ben Haroldson: If should I go back on my word and run again?


David Amos
Reply to @David Amos: I meant to type "If so" but i clicked post too quickly because the emergency room of my favourite hospital was calling me back.They give me the best of care even though Higgy et al won't give me back my Medicare Card etc my money still works. 
 

Lou Bell
Reply to @David Amos: Ye can't get free Medical on both sides of the border it appears ! Huh ! Who'd a thunk !!





























David Amos
Surprise Surprise Surprise


Terry Tibbs
Reply to @David Amos:
David, please save this news "story" to your blog for future reference, I'm sure at some point it will become convenient to make it disappear.


David Amos 
Reply to @Terry Tibbs: Trust that I am already in the process of doing so.

Methinks my brother's old buddies the Bank of Nova Scotia were right last week when they suggested its much worse than what Higgy et al claim N'esy Pas? 





























Lou Bell
What'll be on the Liberals " spend like a drunken sailor " agenda ?? Perhaps Jacques can sit outside the Legislature with Mr. Vickers on the park bench and find out while Premier Melanson walkie talkies what's goin' on inside .


David Amos 
Reply to @Lou Bell: Methinks everybody knows thats your hero Higgy's blogging buddy Chucky Leblanc's job N'esy Pas?



























Joe Rootliek
Higgs is a much better manager of public debt, than any previous government leader, in any province or in Federal Government for the last 15 years.

He had balanced budgets awhile ago, and this was not as a huge hole as we thought, but all because of Covid 19.

Now Train Justin Trudeau, Mr. Higgs.


David Amos 
Reply to @Joe Rootliek: Methinks somebody must have noticed the largest debt increase ever was when Higgy was the Finance Minister for Alward and that was while was he moving pensions without old folk's permission and his boss was giving what was left of our wood away to Higgy buddies N'esy Pas?

"Just over half of that liability — $7.2 billion — was run up over a 12-year period between 2006 and 2018 by the three one-term governments of Shawn Graham ($2.9 billion), David Alward ($3.5 billion) and Brian Gallant ($853 million)."



























David News
Wonder who is right, the province, RBC, BNS ...... projections are just that. Hope the province is right but lets see at the end of the fiscal period what the real number is.


David Amos 
Reply to @David News: Methinks folks should use common sense and ignore projections of banksters and politicians and batten down the hatches because the worst is yet to come N'esy Pas?


David News 
Reply to @David Amos: Maybe yes maybe no. That is the point


David Amos
Reply to @David News: How many trillion must the Yankees pump into their failing economy before the light dawns on Marblehead? 
 

Lou Bell
Reply to @David Amos: Who cares ? We're Canadian !!!






















Jesse Pinkman
So proud of New Brunswick and feeling very grateful and blessed to have a leader like Higgs in charge. This virus has shown us just how good New Brunswick can do when we ignore Canadian convention and go our own way. Please stand firm on the TFWs premier Higgs. Please let this play out and see what happens when the CERB runs out. We are in a whole new paradigm and it will take a little while for people to get used to the idea that our contribution to New Brunswick actually means something, that employers are actually going to be looking to us. Please don't give in to the demands of those who prefer TFWs to New Brunswickers. The idea of that money remaining in NB, giving the pride of a good hard job to NBers, and of building a solid skill set and workforce in NB will be transformational for our province.


Jos Allaire
Reply to @Jesse Pinkman: Hail-tu they Bermuda?


David Amos
Reply to @Jos Allaire: Mais Oui


Christopher Harborne
Reply to @Jesse Pinkman: You going to work in the farm fields for near minimum wage?


Lou Bell
Reply to @Christopher Harborne: WE may as well top up salries a bit and hire local ! We're paying over half the costs now anyway !!! Or better still , let's just let the farmers / fishermen foot the total bill !! How's that suit you ??? 
 

David Amos
Reply to @Christopher Harborne: Methinks everybody knows by now that Higgy just lost another supporter N'esy Pas? 


Jesse Pinkman
Reply to @Jesse Pinkman: I take this back, wouldn't vote for Higgs now if you payed me. The TFW program should be renamed the let's distort the supply and demand of the labour market with an endless supply of cheap labour subsidized by taxpayers for the benefit of the employers, worker program.


Lou Bell
Reply to @Jos Allaire: Don't forget the 10 million dollar barge the Liberals gave away to a Quebec company and the UNDISCLOSED 130 million they got caught trying to give away to the SANB " phonie games " !! How many members were in on it ? i suspect many of the anglophone Liberals hadn't a clue it was going on ! Perhaps they should tell us !!!!!!!!!!
























Matt Steele
If N.B. can come through this Covid-19 crisis only 300 million in the hole , the province will do well . Brian Gallant was planning on spending 130 million just for the Francophonie games , so he probably would spent a lot more than 300 million on the Covid Crisis if he had still been Premier . Things are starting to get back to normal as more businesses open up , so hopefully N.B. can keep its borders closed , and let the economy start to roll again .


David Amos 
Reply to @Matt Steele: Methinks you forgot how much Higgy et al were planning to spend on "Not So Smart" meters and a power rate increase just before the "virus" threw a wrench in their plans N'esy Pas?


David Amos 
Reply to @Matt Steele: To be fair to Gallant I should remind you that he promised to freeze power rates for 3 years if reelected and the EUB put a stop to the "Not So Smart" meter nonsense just before the last writ was dropped. However history shows that as soon as the PANB supported Higgy's bid for a mandate NB Power went back to the EUB immediately for rate increases and to make another stab at getting an ok for smart meters. Correct?































Terry Tibbs
I can't help but remember tales of woe, and "stories" about how broke this great province was, before it became convenient for the Higgs government to spend $300 million.
Funny how times change eh?  


Terry Tibbs
Reply to @Terry Tibbs:
And like those other "stories"............. I suspect $300 million is but a tip of the iceberg. And speaking of icebergs creates a vision of the Titanic.


James Smith
Reply to @Terry Tibbs: It’s the goal of the media to exhaust you with conflicting misinformation, loaded terminology, strategic misuse of positive/negative words, and misleading headlines such as this one.


David Amos
Reply to @Terry Tibbs: Methinks its funny that things have changed with regards to my Twitter account Many people including  Higgy's buddy Chucky Leblanc block me  but at least 20 political pundits have already checked my blog where these words are recorded I bet Higgy et al were the first to do so because they don't block me Some of his minions actually follow me N'esy Pas?


David Amos
Reply to @James Smith: Methinks the media also fails to tell obvious truths such as who is running for public office and where N'esy Pas?  


Lou Bell
Reply to @Terry Tibbs: And yet you'd prefer we have a few thousand cases , many deaths , solely to have a fatter wallet !!





























Richard Riel
Don't try to make things look good Mr Higgs, so to mask all the other others peoples money you shifted around to make yourself look good.


Donald Gallant 
Reply to @Richard Riel:
And while Higgs May shift Trudeau just gives it away.

Lou Bell
Reply to @Richard Riel: Boy this sure puts a " Bee " in the liberals behind !

Lou Bell 
Reply to @Richard Riel: Try Trudeau , he's the leader of the " spend like a drunken sailor " Liberals !!!

Jim Cyr
Reply to @Richard Riel: Oh stop.

David Amos
Reply to @Lou Bell: Methinks its time for your nap N'esy Pas?







 
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