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N.S. Tories left finances in bad shape: NDP
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| Contributor | Monsieur |
| Last Edited | Monsieur Aug 17, 2009 02:14pm |
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| Category | Report |
| Author | CBC News |
| Media | Website - CBC |
| News Date | Monday, August 17, 2009 08:00:00 PM UTC0:0 |
| Description | Nova Scotia's new NDP government says the Tories were on an "unsustainable" fiscal road that would have seen the debt climb about $4 billion in three years.
The NDP released an external report Monday into the province's finances.
Finance Minister Graham Steele said the audit found that spending has been rising, while revenue is flat or declining due to the recession and reduced offshore and equalization payments.
He said if the province continued on the path set by the previous Progressive Conservative government, the annual deficit would be $1.3 billion and the debt $16.7 billion by 2012-13.
The provincial debt is currently $12 billion.
"The previous government was on an unsustainable path. That is going to change," Steele said in a release. |
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