Wednesday 15 February 2023

Growing tax windfall drives New Brunswick budget surplus to record $862.2M

 

Growing tax windfall drives New Brunswick budget surplus to record $862.2M

Revenues soar but province not adding any money to health budget this quarter

The provincial government is now projecting that the surplus will reach $862.2 million this year — a record — and more than 24 times the original budget projection last March.

"Our economy has recovered much faster [from COVID-19] than expected and population growth has set new records," Finance Minister Ernie Steeves said in his third-quarter fiscal update.

"These factors have contributed significantly to the improved results for our tax revenues."

Steeves also announced the creation of a new "New Brunswick Advantage Savings Fund" that will see the province deposit $300 million of the surplus into an account. 

Interest generated from that account will be spent on programs, though Steeves had no specifics Wednesday on what that will be.

According to the update, revenues are now projected to be more than $1 billion higher than what Steeves set out in his 2022-23 budget last March.

Revenues are now projected to be more than $1 billion higher than what Steeves set out in his 2022-23 budget last March.

That includes $468.2 million more in corporate income tax than originally expected and $423 million more in personal income taxes than what Steeves projected.

What the government is spending on health care this year has barely changed, however, since the last budget update in November.

The record surplus will reduce the province's accumulated debt by $749.5 million, bringing it down to $11.6 billion.

The province recorded a surplus of $777.3 million last year, in 2021-22.

ABOUT THE AUTHOR


Jacques Poitras

Provincial Affairs reporter

Jacques Poitras has been CBC's provincial affairs reporter in New Brunswick since 2000. He grew up in Moncton and covered Parliament in Ottawa for the New Brunswick Telegraph-Journal. He has reported on every New Brunswick election since 1995 and won awards from the Radio Television Digital News Association, the National Newspaper Awards and Amnesty International. He is also the author of five non-fiction books about New Brunswick politics and history.

CBC's Journalistic Standards and Practices
 
 
342 Comments 
 
David Amos
Methinks everybody enjoyed the circus today N'esy Pas?
 
 
 
In the midnight hour 253 Comments Had Not Been Deleted Yet


David Amos
Welcome to the circus  
 
 


Klaus Santa
 
Reply to David Amos 
The circus is supposed to be fun. This must be a Stephen King circus?  
 
 
David Amos 

Reply to Klaus Santa   
So you say Yo Ye without the sand to have a real name as per the rules of this forum

Methinks Higgy et know why I am having fun N'esy Pas? 

 
Klaus Santa
 
Reply to David Amos
Dude you complain on here daily that powerful people are out to get you and then you obsess about my name. Maybe you should use some logic and be a little more private and you won’t have so many people after you with personal vendettas as you seem to think.  
 
 
David Amos 

Reply to Klaus Santa   
Methinks you have no clue as to who I am N'esy Pas?
 
 
David Amos 

Reply to Klaus Santa 
Your total tally of comments right now is 18

I doubt that you will get to your favourite number before you go up the chimney as smoke just like the spirit of good will you pretend to be 

 
 
 
 
Greg Miller
Well it looks like 2 million dollars of this windfall will be paid out to Dr. John Dornan for unjust firing in a lawsuit settlement. Way to go Mr. Higgs and company!   
 
 
Robert Losier  
Reply to Greg Miller
And notice that he mentioned that he attends to his Doctoring Duties one half day per week. Another case of not surrendering a number thusly stopping a full time Doctor from practicing. 
 
 
David Amos
Reply to Robert Losier   
Methinks you fail to understand that this is a circus.The overpaid unaccountable clowns simply don't care what the sheople think because they make the laws and appoint the judges and the prosecutors. If perchance they do get caught with their pants down the taxpayer pays for their and they retire with a fat pension to enjoy N'esy Pas?
 
 
David Amos
 
Reply to Greg Miller 
Trust that the Fat Lady ain't sung about that matter just yet
 
 
David Amos
Reply to Greg Miller  
Methinks that may be appealed N'esy Pas?
 
 
David Amos
Reply to David Amos 
Lawyers can smell money through brick walls at 500 paces no doubt they are lining up and begging for the job 
 
 
 
 
 
 
Samuel Champlain
  
Are the Higgs haters finally realizing how ridiculous they sound complaining about a surplus and how it will end up saving us millions down the road and helping future generations. Probably not.  
 
 
David Amos
Reply to Samuel Champlain
Dream on 
 
 
 
 
 
Lou Bell
What's hilarious is Liberals complained Higgs left millions on the table for things we didn't need like for new buses and what not , then complain that he took all he could get outta the incompetent Feds in the next sentence ! Talk about not knowing when they're coming or going ! 
 
 
David Amos

Reply to Lou Bell
Cry me a river
 
 
 
 
 
 
Sam Smithers
 
The day the Higgs haters start agreeing with what Higgs is doing financially will be the day he starts failing NBers.   
 
 
Michael Cain
 
Reply to Sam Smithers
Only a Higgs bootlicker would spew such nonsense.
 
 
David Amos
Reply to Michael Cain
Methinks you should ask you favourite politician why Higgy finally coughed up a Health Care Card for me just before the last Yuletide Season Trust that it was not a gesture of good will and my many comments over the years and all the ones against me affirm that to be a fact N'esy Pas?  
 
 
David Amos
Reply to Sam Smithers
Methinks its High Time the "Deacon of Death" Wannabe gets the Long Kiss Goodnight N'esy Pas? 
 
 
David Amos
  
Reply to David Amos 
Methinks its High Time the "Deacon of Death" Wannabe gets the Long Kiss Goodnight N'esy Pas?

Deacon of Death

by Fred Rosen

Published by Open Road Media

By day, Sam Smithers was the deacon of his Baptist church in Plant City, Florida, a respected neighbor to many, and a devoted husband and father. But after the sun set, he became something else: a violent attacker—and killer—of prostitutes.

 
Lou Bell
  
Reply to Michael Cain
Meanwhile , you and your bud Justin will have lotsa " spoonin' " time in a short while . Even his caucus is bailing on him !  
 
 
Robert Losier
Reply to Lou Bell 
What? Say it isn't so. What will Canadians do without PM Trudeau having our backs.
 
 
Lou Bell
  
Reply to Lou Bell   
" Drama 101 , and Mikey's the 1st to sign up ! 
 
 
Alison Jackson  
Reply to Sam Smithers
27 comments and only 17 likes. Looks like your opinions resonate with the population Ringo. Good job!  
 
 
David Amos
Reply to Alison Jackson
Surely you jest 
 
 
David Amos
  
Reply to Lou Bell
Methinks many folks should agree that as Higgy's favourite Drama Queen you take the cake and their butter tarts in that regard N'esy Pas? 
 
 
David Amos
Reply to David Amos
Methinks its interesting that little Lou can say anything to me but I am not permitted to respond N'esy Pas?  
 

David Amos
Reply to David Amos
Methinks it interesting that Michael Cain is blocked and the Deacon Of Death Wannabe go goes on and on N'esy Pas  
 
 
 
 
 
 
 
Rhys Philbin 
Tax payers being gouged.

There’s where your “ windfall” is coming from.

 
Jane MacMillan
Reply to Rhys Philbin   
Yup!! Thank you 🙏.  
 
 
Sam Smithers
Reply to Rhys Philbin
How so, taxes have been lowered here in NB, outside of the carbon tax, but that is on Ottawa. 
 
 
Rosco holt
Reply to Sam Smithers 
Where?

My taxes have gone up.

 
Michael Cain
Reply to Sam Smithers 
No, Higgs has been collecting the carbon tax since 2020. It was on him for putting it in general revenue. After getting scolded by Ottawa for ripping us off, he is now using it for climate change initiatives; at least he says he is. But you knew that.  
 
 
David Amos
Reply to Rosco holt
Ditto 






Karl Childers  
Fiscal responsibility, NB on the right track. Something the libs and ndp cannot fathom.
 
 
Michael Cain
Reply to Karl Childers 
Great, the Higgs government is sinking the ship. How many fathoms under are we now?  
 
 
Sam Smithers

Reply to Michael Cain
 
 
Sam Smithers  
Reply to Karl Childers
Well said and very accurate, it burns Lib supporters when they read this because they know it is true. 
 
 
Alison Jackson 
Reply to Sam Smithers 
Good Gravy, you're still commenting this?? Give it a rest Ringo, you're going to have a hard time sleeping being so excited over Trudeau so much. Tell us, when you close your eyes at night does he appear like a magical incarnation summoned from the depth of your being? Do you see him in your coffee, maybe you catch yourself thinking about him as you stare off into space at work. Tell us do!  
 
 
Sam Smithers
Reply to Alison Jackson  
As usual you focus on PC supporters and what they bring up yet completely ignore those bringing up HIggs all day, and you wonder why all I do is laugh you off all the time. 
 
 
Robert Losier  
Reply to Sam Smithers
That's what I like to see here - a good time had by all.  
 
 
David Amos
Reply to Robert Losier  
Me too
 
 
 
 
 
Jake Newman 
either pay down the debt or provide tax cuts to middle class earners. or maybe even reduce the GST. 
 
 
Robert Losier  
Reply to Jake Newman 
The PM has decimated the middle class.  
 
 
David Amos
Reply to Robert Losier  
Yup





Matt Steele
Great news as Premier Higgs's management skills are really shining through ; although with a 12 BILLION dollar provincial debt , and paying nearly 2 million per day just in interest ; .N.B. still has a tough financial road ahead . 


Jane MacMillan 
Reply to Matt Steele 
It’s the top down. A rich kid with Dad’s credit card never learned restraint obviously. Thanks to making Mary Jane legal (and I don’t care about that either way), got elected. It’s been a spending spree ever since on the backs of hard working Canadians. Higgs isn’t perfect but, he isn’t responsible for the spending spree of another. He’s held the purse strings and maybe that’s a good thing as long as it isn’t all a trust fund for JD’s great grandchildren.

Time for a change in Ottawa. Let’s start there.

Now now you know that there will not be any change in Ottawa until the ND Leader files for divorce from The PM.  
 
 
Robert Losier
Reply to Jane MacMillan   
Now now you know that there will not be any change in Ottawa until the ND Leader files for divorce from The PM.  
 
 
David Amos
Reply to Robert Losier 
C'est Vrai
 
 
 
 
 
Sam Smithers
Based on what I read from many below they would not be able to financially manage a gumball machine.
 
 
David Amos
Reply to Sam Smithers 
So you say
 
 
 
 
 
Rob Sense 
People may think this is great but they are missing the point. How incompetent to underestimate the budget 5 years in a row and now we have a $1Billion rounding error? Does anyone in government know what budgeting means??
 
 
Sam Smithers
Reply to Rob Sense 
Would you rather they underestimate or overestimate. Read up on economics, anyone running any company will tell you better to under promise and over deliver. If that is the best complaint you have then you have it good compared to other provinces.
 
 
Malcolm Fillmore 
Reply to Sam Smithers 
Underestimate? 2400%? Incompetence.
 
 
Michael Cain
Reply to Sam Smithers
How can you plan for the future if you don't have accurate numbers? Pull your head out. 
 
 
Sam Smithers
Reply to Michael Cain
Our gov't is always planning, which is why we keep having surpluses, it appears another topic is way over you head. Does JT plan at all when he spends beyond our country's means? I suggest you get yours out, based on your posts today your mind has been absent oxygen for days.  
 
 
Michael Cain
Reply to Sam Smithers
Contradicting yourself now; talking out of the wrong end as usual.
 
 
Sam Smithers
Reply to Michael Cain 
Maybe Higgs should take JT's advice and let the budget balance itself.  
 
 
Michael Cain
Reply to Sam Smithers  
Maybe you should be in bed, young fella, school tomorrow.   
 
 
David Amos
Reply to Michael Cain
I concur  

 

 

 

Jake Sully 
Rene Legacy, the Liberal finance critic, says the government should be embarrassed by this surplus.

Frankly, I cannot believe a finance critic would make such a stupid comment. Yeah, I get it, Legacy’s primary role is to criticize everything this government does that is related to our finances. A critic’s role is the easiest role to play for any politician; however Legacy sure embarrassed himself with this dumb, desperate comment. I wish there was an emoji for “shaking my head, rolling my eyes”.

 
Rosco holt
Reply to Jake Sully 
What I find stupid is Higgs and Steeve playing the violin while the province is burning. 

 
David Amos
 
Reply to Jake Sully
Legacy is one of my favourite clowns in this circus 
 
 
 
 
 
 
Oh no, not another evil surplus, can this gov't not start running huge deficits and expand the debt so those who do not understand finance can be happy again.
 
 
Klaus Santa 
   
Reply to Samuel Champlain
Maybe they should find some balance between crumbling roads and record surpluses?
 
 
Samuel Champlain
   
Reply to Klaus Santa
Maybe you should stop posting since you make little to no sense.
 
 
Chuck Michaels 
Reply to Samuel Champlain
The LiberalSANB party perhaps...?
 
 
Matt Fillmore
Reply to Klaus Santa
maybe you should wait til next month when they announce their capital budget which would cover money to fix and maintain the roads.
 
 
David Amos
Reply to Samuel Champlain
Who are you to make fun of Santa? 
 





Klaus Santa 
  
NBers can’t get healthcare, roads are crumbling, sales tax of 15% and these people are claiming victory for an obscene surplus in times of hardship! What is wrong with them? Why wouldn’t they lower sales tax, gas tax, fix the roads, not sell out NBers to Ottawa and their digital ID. Why does this government refuse to give a break to NBers while the premier goes to Ontario political party events and makes fun of NBers to crowds in Ontario. He makes me feel ill!  
 
 
Archie Levesque  
  
Reply to Klaus Santa
Not allowed to lower Gas taxes as per the Federal lIbs 
 
 
David Amos
 
Reply to Klaus Santa
Methinks you should ask your favourite politician why Higgy finally coughed up a Health Care Card for me just before the last Yuletide Season Trust that it was not a gesture of good will and my many comments over the years and all the ones against me affirm that to be a fact N'esy Pas? 
 
 
Klaus Santa  
  
Reply to Archie Levesque
But Blaine Higgs goes along with all the climate change stuff and is in favour of carbon taxes. He even said the higher price reduced the use of fuel, which he thought was good. That was his only argument for lowering the carbon tax, not a principled stand against it, but that the increases prices of fuel had already seen lower demand. Higgs is just another who sees hiking prices for consumers as beneficial to the climate agenda.  
 
 
Michael Cain
Reply to Archie Levesque
The province could drop theirs. But then, why would you encourage more pollution? 
 
 
 
 
 
 
Klaus Santa 
  
I guess when they refuse to fix roads and it damages our cars it’s a win win for them because they figure we can pay more taxes on parts and services when we get it fixed. Even more surplus for them to not use to fix the roads and run services. Hey Blaine, maybe you should bring in another 10,000 and collect extra taxes from them, then not spend an extra penny on providing any more services so that when they eventually use services, it puts even more pressure on the system. 
 
 
David Amos 
 
Reply to Klaus Santa
Deja Vu???

"To encourage thoughtful and respectful conversations, first and last names will appear with each submission to CBC/Radio-Canada's online communities (except in children and youth-oriented communities). Pseudonyms will no longer be permitted." 

 
Klaus Santa
  
Reply to David Amos 
I don’t care. 
 
 
David Amos 
 
Reply to Klaus Santa 
Try telling me something I don't know 
 
 
 
 
 
 
 
David lutz
Glad to see this governments fiscal responsibility. Pay down some of our dept, it will be better for all New Brunswickers and future generations won't be saddled with our frivolous spending. For those who say the money should go to health care, paying staff more money so they can continue to work and get burnt out doesn't fix it. The issue is there isn't enough staff to hire to fill vacancies... it's not just healthcare realizing this. 
 
 
Micheal Grey 
Reply to David lutz  
Why not use some of the money to create programs to encourage more people to enter the field?  
 
 
David Amos
Reply to David lutz    
Yea Right 
 
 
Archara Goldehere 
Reply to David lutz  
It's like starving your children all the while you have lot's of money in the bank -- Maybe SD should look into this shameful behavior --     
 
 
Samuel Champlain 
Reply to David lutz       
Easy to understand, but many on these boards can't seem to understand the simple facts you have presented. 
 
 
Archie Levesque 
Reply to Micheal Grey  
The number of doctors they are allowed to train are limited each year by the Feds in Ottawa
 
 
Klaus Santa
  
Reply to Archie Levesque
True, but you won’t see Blaine speak out about that. No, Blaine wants to give more control over our healthcare to Ottawa.  
 
 
 
 
 
 
 
 
claude bourgeois 
The surplus is more than 24 times the original budget projection last March. Great forecasting Mr. DJ ! Playing games with projections is not winning you any votes. New Brunswickers are fed up with this government.
 
 
Klaus Santa 
 
Reply to claude bourgeois 
It raises my blood pressure to even see Higgs on the evening news when
they show images without sound. And I voted for the man!

 
claude bourgeois  
Reply to Klaus Santa  
I only voted for him because my cousin ran and won as a PC in my riding and is now in Cabinet. I would not have voted PC otherwise that is for sure.  
 
 
Klaus Santa 
 
Reply to claude bourgeois 
Is your cousin doing anything to get him ousted as leader? Somebody in
that party needs to wake up lol

 
Samuel Champlain  
Reply to claude bourgeois
The minister does not add up the numbers, people in the department do, and many things can change in a year.  
 
 
Rosco holt
Reply to Samuel Champlain 
It doesn't matter the minister is still incompetent. 
 
 
David Amos 
Reply to claude bourgeois 
Who is your cousin?  
 
 



 
Klaus Santa 

If Higgs is so worried about the deficit then why doesn’t he stop giving away billions in crown land royalties to Irving and he can still pay down the debt and NBers won’t have to be put in hospital closets and drive on crumbling roads?  
 
 
Samuel Champlain 
 
Reply to Klaus Santa 
Those royalties were adjusted, pay attention. And based on the fact lumber prices have crashed the money we would have made over a very short time would not be there now even if they had not been adjusted.  
 
 
Klaus Santa 

Reply to Samuel Champlain  
A sensible politician would read the room and see that NBers from all political persuasions have had just about enough of this government. We are at breaking point and we are not feeling the warm feeling that Higgs is when he looks at the books.  
 
 
David Amos  
 
Reply to Klaus Santa 
Your tally stands at 32 
 
 
Klaus Santa 

Reply to Klaus Santa 
Dream on! Lol
 
 
David Amos  
 
Reply to Klaus Santa 
Bingo your favourite number correct?
 
 
Klaus Santa 
 
Reply to David Amos
I have zero idea what significance 32 is supposed to have 
 
 
David Amos  
 
Reply to Klaus Santa
Thats not the number and you know it  
 
 
Klaus Santa 
 
Reply to David Amos
I’m not into riddles , can you just say what you mean please.  
 
 
Rosco holt 
Reply to Samuel Champlain
Pay attention about the adjustments government increased prices but lowered other sections of the formula giving us negative royalties. We are paying.
 
 
David Amos  
 
Reply to Klaus Santa   
Go Figure

George Washington’s Inauguration as the 1st President of the United States, Apr. 30, 1789,” by Ill. John D. Melius, 33° George Washington was inaugurated as the first president of the United States of America on April 30, 1789. He went to Federal Hall on Wall Street and was joined by John Adams, his Vice President, Frederick A. C. Muhlenberg, Speaker of the House of Representatives, Chancellor Robert Livingston, the highest-ranking judicial officer of New York; and Generals Frederick William von Steuben, “Light Horse Harry” Lee, Henry Knox, and Arthur St. Clair (all Masons except for Adams). As the time came for Washington to step out on the balcony and take his oath of office before an estimated crowd of 10,000, it was realized that no one had brought a Bible! Chancellor Livingston was also Grand Master of Masons of New York and ordered Maj. Jacob Morton, parade Marshal, Grand Secretary, and Master of St. John’s Lodge No. 1, to get the Bible from St. John’s Lodge. The lodge met at the “Old Coffee House” at the corner of Water and Wall Streets, about three blocks away. Morton returned with the Bible, Chancellor Livingston administered the oath, and George Washington added the words “So help me God!” and kissed the Bible when he finished. Thus began the first term of the first President of the United States. St. John’s Lodge carefully preserves the “Washington Bible” and uses it at its meetings. The Grand Master of New York takes his oath of office on the Bible as have presidents Warren G. Harding, Dwight D. Eisenhower, James E. Carter, and George H. W. Bush. The Bible was scheduled to be used for the inauguration of President George W. Bush, but rain kept the fragile book inside. —From the January/February 2009 Scottish Rite Journal

 
David Amos  
 
Reply to Klaus Santa
33° Is the highest honour conferred by the Supreme Council of the Scottish Rite Correct?

FYI My father was a Mason too as are most cops, lawyers, politicians and no doubt you are as well

 
Marguerite Deschamps  
Reply to Klaus Santa 
So, yougr father worked with concrete.  
 
 
Brian Buchannon  
Reply to Samuel Champlain 
Id be interested to see the balance between what the province has to pay to keep Irving here vs what the province makes from them. All these sweetheart deals, subsidies, tax cuts, offshore accounts to shelter from taxes, but tax payer money is given to them hand over fist. Look at the stink theyre making over the power rate increases, and we already pay more so their power is subsidized.  
 
 
Klaus Santa 
 
Reply to David Amos
Got ya! Now I understand what you meant. I’m 100% not a Freemason. There was a documentary about them by an Australian guy that’s really good. I am very much against satanism.  
 
 
David Amos  
Reply to Marguerite Deschamps
Years ago I made you well aware that my Father was the County Administrator of Westmorland County until your hero Little Louie centralized the government in Fat Fred City. Then he became the Supervisor of Taxation for the until the day he died. His boss was the Minister of Finance. Higgy was good friends of my Mother's second husband so he knows what I say is true.

Methinks Ernie should not deny that my Father is buried amongst a herd of his relatives and ours in the Fair Haven Cemetery in Moncton N'esy Pas? 

 
David Amos  
 
Reply to Klaus Santa 
I haven't believed in Santa or anybody's God in over 60 years 
 
 
marc lapointe 
Reply to David Amos
N'est-ce pas ?  
 
 
David Amos 
Reply to marc lapointe
Methinks you must be from Quebec N'esy Pas?  

 

 
 
 
 
 
 
 
 
 
 

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