Finance Minister Ernie Steeves said a strong economy and population growth in the province contributed to the year-end numbers. (Jacques Poitras/CBC)
The Higgs government recorded a larger than expected budget surplus last year, according to newly audited financial statements.
The surplus surged to $500.8 million, far higher than the original projection of $40.3 million.
"A
strong economy and continued growth in New Brunswick's population
proved to be significant drivers in the year-end numbers," Finance
Minister Ernie Steeves said in a statement on Monday.
As recently as March, Steeves was projecting a $247.4 million surplus — but the final figure is more than double that.
It means another reduction to the province's accumulated debt, which now stands at $11.8 billion.
Each
summer, Finance Department officials prepare consolidated financial
statements for the province that take in government departments and
other entities including N.B. Power, school districts, regional health
authorities and non-profit nursing homes.
The statements are then audited by the auditor general, who signs off on the numbers.
The figures released Monday do not affect the $27.6 million deficit that's projected for the current 2024-25 fiscal year.
This
year's statements were released days before the start of a provincial
election campaign and they inject new data into a political debate over
the Progressive Conservative government's cautious approach to
government spending.
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.
Let's hope the Liberals don't get in and start
adding to our debt again. Cons are trying to get us in a better place
long term, short sighted people want to spend everything and run up
debt.
Douglas James
Reply to David lutz
Cons is the correct term, for sure. They've
been conning us for 150 years. Trying to get us in a better place long
term? Given their abysmal record, that is highly unlikely.
James Risdon
Reply to David lutz
Hear, hear.
David Amos
Reply to Douglas James
Do yo really think you are conferring with a well known political lawyer?
Gabriel Boucher
Reply to David lutz
If the Cons really wanted us to be in a better
place, they would've taken the education and healthcare crisis more
seriously during the 6 years they've been in power. Neglecting those
services will cost us millions, if not billions just trying to repair
the system in the years to come. Repairs that this government failed to
address time and time again. The rise in our provincial debt is more
likely to happen, just not the way you think it'll happen.
Douglas James
Reply to Gabriel Boucher
Exactly. But, unfortunately, Higgs, like most
politicians are only interested in one thing....staying in power by hook
or crook. They'll watch the healthcare system deteriorate further just
so they can brag about paying down the debt. We all have debt. We all
try to pay it down, but not by risking our health or our lives.
No comments:
Post a Comment