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Methinks Minister Steeves must recall our conversation as I ran against Higgy et al in 2018 He cannot deny what I said on how to deal our debt and budgets was recorded by the media in Moncton N'esy Pas?
https://www.cbc.ca/news/canada/new-brunswick/province-records-surplus-last-year-1.5762338
New Brunswick manages to see $48.7M surplus in 2019-20
Surplus recorded despite millions in pandemic spending
Finance Minister Ernie Steeves said the province recorded a surplus in 2019-2020, despite millions in COVID-19 related spending in the final two weeks of the fiscal year. (Radio-Canada)
There was a glimmer of good fiscal news for New Brunswick Wednesday when the provincial government revealed it was able to salvage a budget surplus last year despite a burst of COVID-19 spending in its final days.
The province recorded a surplus of $48.7 million in 2019-20 — below an optimistic pre-pandemic projection, but still higher than what was originally budgeted and far better than the huge deficit this year.
"The last eight months have been just a whirlwind, and the budget released back in March does seem like a hundred years ago, and this of course is even further," said Finance Minister Ernie Steeves.
"But yeah, it is a good news story. Anytime you can get a surplus, anytime you can pay down some money on the budget, that's a great news story."
The figures include a $38.6-million reduction in the province's net debt, the first time it has been reduced in 13 years and a bright spot given the subsequent COVID-19 budget crunch.
"If we hadn't done that, it would have been $36 million deeper in the hole now," Steeves said. "Does it soften it? I don't know. It was a good accomplishment."
Steeves forecast a modest surplus of $23.1 million in his first budget in early 2019.
But by February of this year, a revenue windfall had improved the projection to $97.8 million.
Then COVID-19 hit, adding millions in new spending to the bottom line in the final two weeks of the fiscal year.
A one-time $900 New Brunswick Workers Emergency Income Benefit was announced March 24 and its $42 million expense was tacked on to the 2019-20 books.
Even with that added expense, the government trimmed other spending and ended up with its $48.7 million surplus, according to final figures verified by Auditor-General Kim MacPherson.
The picture in the current 2020-21 fiscal year is considerably bleaker. Pandemic spending wiped out many of the assumptions that Steeves used for his 2020-21 budget, which he introduced just days before the province went into its first COVID-19 lockdown.
Steeves had budgeted a $92.4 million surplus, but in June, he told a committee of MLAs that crashing revenue and soaring expenses had wiped that out, leaving the province on track for a $343 million deficit this year.
2018 New Brunswick Provincial Election Saint John Region Candidate Messages
That is not the plan. The Conservative plan is to simply ignore bridge maintenance to save money, and then, in 5 years or so, when the bridge is about to fall down, pay someone, who is party faithful, BIG bucks to build a new one.
Province helps mend rift between communities after service commission dissolved
Board serving 18 towns and rural communities in Sussex-Hampton dissolved last month amid budget dispute
Connell Smith · CBC News · Posted: Mar 11, 2019
Also, were there any forestry subsidies given to industry?
How many DNRE Biologists remain if any? How many DNRE Forest Rangers remain performing wildlife protection, wildlife Habitat and forestry management?
How many hunters and Fishermen Remain in New Brunswick?
What about Stumpage Fees $$$ From Crown Land, Forestry Jobs UP or DOWN?
Don't worry, Higgs won't let you down, and like most CONServative governments, he will spend more trying to save a buck, than if he just went out and spent that buck.
New Brunswick fish and wildlife on Crown land is taking a beating and future generations are being duped while Industry who transform our Crown Land forest into tree farms and bank our profits in their BANKS!
Actually it is very easy to spend money to save money. Here: I will give you an example. You own a fleet of very tired pick-up trucks that are due to be replaced. You decide to save money by not buying new trucks this year. So you waste more money fixing those trucks than the payment would be on new ones, and to add to the gross stupidity, next year those very same trucks cost $6000 more.
But I excuse you, being a Conservative has it's challenges.
Generally PCs don't know how to spend money to save money, because they are, by and large, too short sighted.
The only time a PC might spend money because they *think* they are saving money is at Costco for a membership.
BTW I am not a Liberal supporter, so, yet again, your perceptions are wonky.
Surely you jest
No "jest". To take up the CONServative credo requires either of 2 things, you have just had a lobotomy, or you are bound and determined to act like you just did.
In NB we have an "all inclusive" government and not in a good way.
A morning radio personality for a Finance Minister?
The surplus amount was given to the public back in March when the fiscal year ended. Look it up.
Our current deficit for this year is projected at $343 million. How is that a debt reduction?
The pride is back.
"Steeves had budgeted a $92.4 million surplus, but in June, he told a committee of MLAs that crashing revenue and soaring expenses had wiped that out, leaving the province on track for a $343 million deficit this year. "
How outstanding is that?
Ontario currently has a PC government. I don't think your comparison actually helps your point of view here.
Maybe if St John "needs" it so bad they can finance it themselves? In this current reality of low interest rates there should be no trouble raising money for any money making endeavour.
Maybe not a good story for anyone?
Where exactly do you *think* this money came from?
Remember, the promise Mr Higgs made to fight the carbon tax?
Remember, after a short chat with Mr Trudeau, Mr Higgs near broke land speed records "rolling over" on that promise?
Ever wonder where your federal carbon tax rebate cheques went?
That and the "essential worker" top ups that only applied to certain people who made under x amount, which was a sort of Catch 22 and excluded a lot of front line workers who deserved danger pay for their efforts while giving top ups potentially to casual workers only. That top up did not include retail workers (such as grocery workers) as essential workers - even though they are - unlike PEI that did recognize them, and most of them would qualify because they make lower wages generally.
But yes, I agree. Very little provided for small businesses. We are too small to qualify for a lot of federal programs but we were able to apply for CERB once that was up. A lot of funding we could have qualified for stopped taking applicants before we could apply because the demand was so high.
It's tough, for sure. They should do more. They should offer something to those in the sectors that are mandated to close under the Orange Phase. I believe CRB is up and running now to replace the CERB, but still. Some newer businesses could still fall between the cracks of those programs. NB could lend a hand so those businesses can survive the Orange Phase restrictions and come through it okay.
(Maybe there are programs available that I'm unaware of, it's too hard to keep up)
Do you have something useless to say about everything. Keep on spinning those conspiracies in your basement while people in the "real" world have to make due with reality and keep the economy and society going.
Methinks the RCMP and Higgy et al know that I am witness to many conspiracies that you and your cronies have made fun of However those are YOUR words not mine N'esy Pas?
it could have been 48.7 + 20 that we lost on a selfish election
Nothing you say makes any sense...you never fully awoke from that 60s od did you?
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