02 June 2016

Priorities #nlpoli

While everyone has been pre-occupied with Dwight Ball's psycho-drama this past couple of weeks, odds are most people missed a little bill that went through the House.

The second Loan Act for 2016 set the maximum borrowing for the province this fiscal year at $3.4 billion.  An earlier version had set the borrowing at $1.6 billion but that was actually too low once the Estimates appeared and showed the cash required to balance the books was $3.0 billion.

Some people might a bit shocked by the apparent doubling of the borrowing requirement but that really isn't the figure.  The $1.6 billion was wrong at the time it appeared in the House.

What you should notice is that the cash deficit this year has already increased by 13% and that was before the House session even finished.  40% of government spending this year will come from borrowing.

Meanwhile, Dwight Ball is worried about being held responsible for $6.0 million in severance to Ed Martin.

Maybe Dwight  needs to give his head a shake.  That is, if he can find time to pull it out of his  backside.