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Showing posts with label Finance Minister Tom Osborne; 2017-18 NL Provincial Budget deficit. Show all posts
Showing posts with label Finance Minister Tom Osborne; 2017-18 NL Provincial Budget deficit. Show all posts

Thursday, 15 November 2018

TOM OSBORNE NEEDS A FISCAL AXE AND THE COURAGE TO USE IT

In March of this year the Finance Minister, Tom Osborne, delivered the seventh in a successive string of deficit budgets, their genesis originating in both Tory and Liberal Administrations. And like his Liberal predecessor, Osborne still offered the  assurance that fiscal balance will be achieved by 2022-23.

On what basis should we believe him any more than we did Tory Finance Minister Ross Wiseman or Liberal Cathy Bennett? Isn't the process of digging the province out of the current debt spiral less a matter of prediction than of serious intent, discipline and leadership provided through diligent oversight? 

Last year's Budget outcome offers a perfect example of why the promise of achieving a balance of revenue and expenditures in our fiscal affairs is just that - a promise. Nothing more.