New Brunswick Finance Minister Cathy Rogers takes questions from reporters before joining her federal, provincial and territorial counterparts for dinner in Ottawa, Sunday, December 10, 2017. After a decade of deficits, New Brunswick's finance minister says the province will produce more red ink when she delivers a provincial budget Tuesday. THE CANADIAN PRESS/Fred Chartrand
Republished January 30, 2018 - 1:30 AM
Original Publication Date January 29, 2018 - 12:31 PM
FREDERICTON - The New Brunswick government plans to increase spending in today's provincial budget and delay a return to balanced budgets for the next couple of years.
A government source tells The Canadian Press the province will spend an extra $74 million in the 2018-2019 budget to support programs for economic competitiveness, youth employment and seniors.
The source says the government now expects to see a return to balanced books in the 2021-2022 budget year.
On Monday, Finance Minister Cathy Rogers said the province has a number of challenges that need investments now.
But Charles Lammam of the Fraser Institute says it's time the New Brunswick government cuts spending and starts to address a net debt of $14 billion.
He says when measured as a share of the provincial economy, New Brunswick currently stands as one of the most indebted provinces in all of Canada.
Jeff Carr of the Opposition Progressive Conservatives says the government is being irresponsible in its spending and should be reducing the debt now.
News from © The Canadian Press, 2018