New Brunswick government won't be able to balance books before next election
Published Friday, January 25, 2013 3:13PM AST
New Brunswick's Opposition Liberals say by failing to balance the provincial budget by 2014 the governing Conservatives are breaking one of their main campaign promises.
Opposition Leader Victor Boudreau says while the economy is faltering, the provincial government has made the situation worse by not growing the economy and creating jobs.
Finance Minister Blaine Higgs said Thursday that he doesn't expect much improvement in the province's finances when he tables a deficit-laden budget in March, and won't be able to meet the pledge of balancing the books by the next election.
Higgs says the province's economy has not rebounded since the 2008 recession.
In November, he said the deficit projection for this current year was expected to be $356 million -- an increase of $173 million from the last budget.
Boudreau says the government should have been looking for ways of growing revenues rather than buying the Saint John Harbour Bridge and giving property tax cuts to large corporations.