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Liberal Government Confirms No Plan to Balance Budget
Tony Wakeham, PC Finance Critic, is raising questions about the Liberal Government’s ability to deliver on its fiscal plan to return to surplus by 2022/23.
Monday, September 30, 2019

Office of the Official Opposition 

For Immediate Release

 

St. John’s, NL (September 30, 2019) – Tony Wakeham, PC Finance Critic, is raising questions about the Liberal Government’s ability to deliver on its fiscal plan to return to surplus by 2022/23.

“Three months ago, when the Liberal Government’s 2019 Budget was passed, they promised the people of this province that they had a plan to return the province to surplus in 2022/2023. However, it appears that a return to surplus is now unlikely” said Wakeham. 

“The change of messaging that we have heard from both the Premier and the Minister of Finance is concerning” said Wakeham. “In April, days before the writ dropped, the Liberal Government said the province was on target to return to surplus in 2022/2023. In June, when the budget was being debated and in July after Moody’s downgraded the province’s bond rating, they continued to say they had a plan; but now the Liberal Government is saying that it is “too early to tell” if the surplus targets will be achieved by 2022-23.”

Wakeham also pointed out the lack of public disclosure of the five year fiscal forecast is troubling. “The Liberal Government said they had a plan. Yet they have refused to provide any details for the public to see. No one knows what is in their plan, and now we see them backing away from this plan” said Wakeham.

Wakeham said “doubts raised by the Premier and the Finance Minister, leaves me with doubts about the effectiveness of their plan and ability to manage our province’s finances. These are concerns I have expressed for a while now.”

 

Contacts:

Bradley Russell

Director of Policy and Research

(p) 1.709.729.3668

BradleyRussell@gov.nl.ca

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