Government cuts forecast deficit by more than
half in 2011-2012 Budget
FREDERICTON (CNB) -- The Alward government tabled its first budget today at the Legislative Assembly with significant spending reductions and increased revenue measures resulting in a smaller $448.8-million deficit. Finance Minister Blaine Higgs said the province was facing a $1-billion deficit if the spending trends of the past four years had continued.
Todays budget signifies a new direction, reversing our provinces fiscal decline and restoring New Brunswickers priorities and trust in government, said Higgs. Our government inherited a spending mess that cant be fixed overnight. We are developing a plan to return to balanced budgets within our mandate and to encourage a growing, vibrant economy.