Shortfall confirms government’s irresponsible approach to budgeting
NDP Leader Lorraine Michael (MHA, Signal Hill-Quidi Vidi) says the mid-year financial update released today raises serious concerns about the provincial government’s commitment to fiscal responsibility.
“Today in the same press release government claimed first it was unable to predict the provincial economy nine months in advance, but then claimed that the benefits of Muskrat Falls will be still flowing 50 years hence,” Michael said in the House today.
“I ask the Premier, how can this statement be seen in any way as being a responsible statement on fiscal stewardship?”
Michael focused on the ballooning deficit in Question Period, asking whether the new projection of three quarters of a billion dollars includes the $100 million plus cost of the bungled AbitibiBowater paper mill cleanup.
The NDP Leader says that once again, the government has demonstrated a basic inability to proper planning.
“Government has had nine years and eight budgets to get the province’s finances on solid ground. It has known all along about the volatility of oil ― this government has celebrated the surpluses yet made no provisions for the downside,” she said.
“How can the Premier claim her government is practicing good fiscal stewardship?”
“Will she choose to download her mismanagement onto the backs of the people through cuts to services in order to bankroll her Muskrat Falls project?”