Concerns on New Brunswick’s fiscal decline

Category : Canada News
Updated On : June 12, 2018 11:44 PM
By Indian Times Daily

New Brunswick's auditor general is sounding the alarm over the province's continuing fiscal decline and calling for the release of audited financial statements before the provincial election in September.

Kim MacPherson said today that she is deeply troubled by the fiscal decline — pointing to a $7-billion increase in net debt over the last 10 years.

The debt is expected to hit $14.4 billion by the end of March 2019, and she says that growth in the net debt is not sustainable.

MacPherson says New Brunswick is on track to have its 11th consecutive deficit and there is no immediate plan to address the fiscal decline.

She is calling for a timely release of the province's financial statements in advance of the election.

Just two hours before her report was released, Treasury Board President Roger Melanson issued a statement saying the audited figures will be released before New Brunswickers go to the polls but did not give an exact date.

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