This excerpt from Tuesday’s federal budget speech seems aimed at province’s like Newfoundland and Labrador where the government promised the same day that they’d be piling up more debt on top of their current record debt levels until at least 2021: Maintaining Fiscal Balance in the Federation There is no
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The Sir Robert Bond Papers: A Crisis. Or Not. #nlpoli
“Muskrat Falls is a project that will not impact net debt by a single dollar,” finance minister Tom Marshall said in a provincial government news release. Unfortunately for taxpayers, they won’t pay the net debt. That’s an accountant’s calculation of what the provincial government owes less any assets they could
Continue readingThe Sir Robert Bond Papers: Not exactly, there, Tom, b’y #nlpoli
As part of the orchestrated campaign to attack the people making the comments instead of the comments themselves , finance minister Tom Marshall trotted out in front of the news media on Friday to lace into a group of five lawyers. Marshall said comments by five lawyers opposed to Muskrat
Continue readingThe Sir Robert Bond Papers: The Art of Budget Forecasting #nlpoli
The provincial government set its budget this year based on an oil price forecast of US$124 a barrel in 2012. As we move up on the midway point in the fiscal year (it starts on April 1), oil is well below that. The result is that the provincial government could
Continue readingThe Sir Robert Bond Papers: There’s reality and … #nlpoli
Premier Kathy Dunderdale decided to talk about reality on Monday. A reality check she called it: “Everybody sees what’s happening with the price of oil, and I see every day what that’s doing to our budget,” the premier said. [CBC online story] Dunderdale warned that the provincial government’s deficit this
Continue readingThe Sir Robert Bond Papers: Reality Check: drops and buckets version #nlpoli
Via labradore, a chart that plots Conservative unsustainable public spending since 2003 with recently announced controls on discretionary spending. -srbp-
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