The Canadian Taxpayers Federation is calling on Premier Susan Holt to control spending as government borrowing is already hundreds of millions of dollars more than budgeted  according to the third-quarter fiscal update.

“The Holt government is now borrowing more than one billion dollars this year and taxpayers can’t afford it,” said Devin Drover, CTF Atlantic Director. “Families make tough choices when their budgets are stretched and Holt’s government must do the same.”

The government now plans to borrow $1.3 billion this year, according to the third-quarter update. That’s far more than the $549 million forecasted in the budget. Government revenue is expected to fall by $372 million and spending is projected to exceed the budget by $407 million, mostly in health care and social development.

“Health and social services matter but throwing more money at departments can’t be the only plan and new priorities need to be balanced with savings in other areas,” said Drover. “New Brunswickers deserve a government that can deliver services and live within its means.”

The CTF is calling on Holt to conduct a full, top-to-bottom review of all provincial spending, similar to the successful program reviews undertaken federally by the Chrétien government in the 1990s.

Chrétien’s program review reduced federal program spending by nearly 19 per cent, balanced the budget, cut more than $100 billion in federal debt and paved the way for major tax relief.

“New Brunswick needs a serious and disciplined spending review that looks at what’s working, what isn’t and where savings can be found,” said Drover. “The federal government previously used this approach to balance the books and reduce debt and New Brunswick can do the same.”