Williams to continue unsustainable spending

In his first public statement since coming back to the province after heart surgery, Premier Danny Williams confirmed the provincial government will continue spending public money at a level his finance minister has described as unsustainable.

According to Williams, a balanced budget is no longer a target for his administration.

Williams said it was important to keep “momentum” going in the province. 

Take-away:

1. We are in a pre-election - if not a pre-leadership -  period in which any sound fiscal management goes out the window.
2. Williams correctly identifies provincial government spending as the source of economic activity on the northeast Avalon.  As BP readers know, oil hasn’t been driving things in the metro area, contrary to public belief.

-srbp-