Taxpayers Federation applauds Higgs government surplus, disappointed with lack of tax relief

Author: Jay Goldberg 2023/03/21

Fredericton, NB: The Canadian Taxpayers Federation is applauding the Higgs government’s fifth consecutive balanced budget, but is expressing disappointment with the budget’s lack of tax relief.

“The Higgs government deserves credit for years of sound fiscal management and paying down the debt by over $2 billion,” said CTF interim Atlantic Director Jay Goldberg. “But entering this year, the Higgs government had a surplus of $862 million. Despite all of that fiscal room, the government failed to deliver on tax relief this year.”

The government is projecting a surplus of $40 million for 2023-24, down from $862 million in 2022-23. The lower surplus is due to a 5.2 per cent increase in spending since the fall economic statement.

Total revenue is expected to be $12.2 billion in fiscal year 2023-24. Spending is up $750 million over budget 2022.

“Last year, the Higgs government delivered income tax relief that helped families who were getting hit hard by bigger grocery bills and mortgage payments,” said Goldberg. “This year the government decided to spend more money instead of helping taxpayers directly.”

A Note for our Readers:

As you may know, we're working hard to stop Prime Minister Trudeau's attempt to add a 2nd carbon tax upon Canadian taxpayers. If you are against this tax, would you take a moment today to read and consider signing the petition below?

When you do, your name will be added to the growing list of tens of thousands across our country who want to tell the government that we are opposed to these new taxes. Please take a moment to read the petition below and consider signing it today.

To Prime Minister Justin Trudeau:

The federal government is introducing new fuel standard regulations to require industry to reduce the carbon content of fossil fuels. If industry can’t meet the standard, they’ll have to pay Trudeau's second carbon tax. This tax will ultimately hit already struggling families and businesses.

It’s bad enough that taxpayers are already paying for one carbon tax. Canadians certainly can’t afford a second carbon tax.

We, the undersigned, call on Prime Minister Justin Trudeau to scrap plans for a second carbon tax.