The Canadian Taxpayers Federation is calling on Premier Tim Houston to rein in wasteful spending and stop irresponsible borrowing after the provincial government’s latest fiscal update shows Nova Scotia is on track for record borrowing.

“The Houston government is digging its debt hole even deeper and proving it has no plan to control spending,” said Devin Drover, CTF Atlantic Director. “Nova Scotia families have to make tough choices when their budgets are stretched and Houston’s government needs to do the same.”

The government’s latest update shows Nova Scotia is now borrowing $1.2 billion this year, an increase of $528 million from February’s budget. New spending is driven largely by ballooning costs in the health department, while revenues are falling by nearly $45 million due to slowing population growth and consumer spending.

“Health care is important, but simply throwing more money at the system without reforms or restraint isn’t fixing the problem,” said Drover. “And if costs go up in one area, the responsible thing to do is find savings in another area.

“Right now, the Houston government is spending more money on everything and borrowing hundreds of millions of dollars to pay for it.”

The Houston government’s growing borrowing comes as total debt increased $1.74 billion this year. Debt interest charges will cost taxpayers $909 million this year, or about $842 per person.

“Taxpayers can’t afford more government debt,” said Drover. “If Houston won’t make the tough decisions to cut waste and get spending under control, he’s leaving the next generation of Nova Scotians to pay the price.”

The CTF is calling on the government to implement immediate spending restraint and commit to a credible plan to stop government borrowing by the next provincial budget.