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.
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