Tax collections are up $1.7 billion from budget. That’s a 21 per cent increase. Non-renewable revenues increased $1.7 billion compared to the budget. That’s a 58 per cent increase.
The continuing debt repayment is sorely needed. Over the last 10 years, the provincial government has increased the debt from $4.9 billion in 2013 to a projected $18.1 billion at the end of this year. That’s including the two latest repayments.Article content But provincial politicians shouldn’t get used to seeing government finances through rose-tinted glasses. Even its own budget projects that the debt will start rising again in the future.
It’s easy to pay down debt when revenues are high and times are good, but a government that truly puts taxpayers first keeps paying down debt when times are tough.