Don't be misled; this is a terrible Budget!
The Liberal government reintroduced their 2017-2018 budget yesterday. It was first introduced in April, but died when the election was called a few days later. The Status Quo is going through its standard responses - The Liberals say the budget is great and both Mr. Baillie and Mr. Burrill complain about this and that.
Don't listen to the compliant media on this, they just comment on the nickel and dime changes made since April and not the big picture. This is a terrible Budget for Nova Scotia:
Government spending is increasing 3.7% to a record $10.5 billion.
The amount Nova Scotians will pay to the provincial government is jumping a whopping 4.1% to a record $10.6 billion (despite revenue concerns).
Net debt is at a record $15.1 billion.
Debt servicing is up to a record $850 million, nearly twice what is spent on Transportation and Infrastructure.
(You can insert your own exclamation points.)
The context? Inflation is less than 1% and our population is flat (falling in some regions), in the last two decades government expenditures have tripled and debt doubled while population has remained static. This budget is the same as all the other ones irrespective of party in power; record debt, record spending and record taxation with no hint, even on the horizon, that this will change. The Status Quo (PCs, NDP & Liberals) continue to destabilize the finances of this province.
Continuously raising taxes and spending isn't sustainable. Were Nova Scotia a company, its stock price would be falling and it would be headed for bankruptcy. Fundamentals matter, and this budget is undermining Nova Scotia's.
The Atlantica Party urges the Government of Nova Scotia to return to responsible fiscal policies.