The Canadian Taxpayers Federation is lauding the government of New Brunswick’s spending restraint during the pandemic. Premier Blaine Higgs outlined the province’s fiscal status in his state of the province address on Feb. 10.
“Politicians need to focus spending on necessities to get us through this health and economic crisis and avoid racking up extra costs,” said CTF Interim Atlantic Director Renaud Brossard. “Premier Higgs and his government’s restraint should serve as an example to the rest of the country.”
In his latest state of the province address, Premier Higgs provided an updated deficit figure at $13 million for the 2020-21 financial year. This is down from a projected $183 million in November, and $343 million earlier this year.
According to the latest data from TD Economics, New Brunswick managing to minimize the economic impact of the pandemic with an estimated three per cent drop in GDP.
According to the government’s figures, employment in New Brunswick is back at 99 per cent of pre-pandemic levels.
“While the government must keep looking for ways to save money, this announcement goes to show that it’s possible to navigate through this crisis without bankrupting future generations,” said Brossard.