New Report Recommends Merging Schools, Hospitals As a Way to Combat Debt in New Brunswick
A new report by the Atlantic Institute for Market Studies is making what some may consider controversial recommendations on the best way to deal with the New Brunswick debt problem. Shaun Fantauzzo is a co-author of the research paper. He says, beyond the language situation, New Brunswick has a lot of duplication in its health and education systems. “We recommend looking at that and pursuing a rationalization program similar to Saskatchewan’s in the 1990_s when that province faced bankruptcy”, says Fantauzzo.
Study Suggests NB Government Not Doing Enough to Reduce Debt
With a provincial election looming and the New Brunswick legislature about to adjourn, Premier David Alward is in the hot seat over his party’s spending habits. The Atlantic Institute for Market Studies says that while New Brunswick has taken steps to curb spending, it still needs to tackle its massive and ballooning debt. A new study from the Institute suggests the government isn’t working hard enough to reduce the deficit and trim what will soon be more than $12 billion in debt. The study’s co-author, David Murrell, says with Ontario and Quebec now receiving equalization payments from Ontario, reducing debt in a small province like New Brunswick is critical.
AIMS: Cut Spending
Just as the coming election season will no doubt serve as a springboard for more potentially costly political pledges, a new study from the Atlantic Institute for Market Studies has highlighted how New Brunswick has little fiscal room left to maneuver. The study, prepared by University of New Brunswick economist David Murrell and AIMS policy analyst Shaun Fantauzzo, argues that because of expected declines in federal transfer payments over the near term New Brunswick must quickly adjust its expenditures in order to better reflect an era of diminished revenue. The numbers coming out of the report are certainly a sober read for any politician who may be tempted to promise grandiose pledges in a few short months.According to AIMS,the provincial debt is equivalent to 37.7 per cent of New Brunswick’s GDP. On a per-capita basis, every single New Brunswick resident is burdened by more than $16,000 in provincial government debt.
New Brunswick Must Tackle Its Debt Problem
UNB Professor David Murrell, AIMS Policy Analyst Shaun Fantauzzo, and Director of Research Ben Eisen argue that New Brunswick's provincial government must take measures to reduce spending and stabilize the province's fiscal situation.
New Brunswick’s Debt and Deficit: A Historical Look
University of New Brunswick Professor David Murrell and AIMS Policy Analyst Shaun Fantauzzo analyze New Brunswick's public finances since the 1980s and show that revenue is declining as a share of GDP, reinforcing the need for fiscal consolidation in the province.
PRESS RELEASE: Paper Analyzes New Brunswick’s Debt and Deficit Problem
Halifax, NS/Fredericton, NB: New Brunswick faces a significant public debt problem and spending restraint is the best available solution. These are the central findings of a new research paper, released this morning, by the Atlantic Institute for Market Studies (AIMS). The paper’s title is “New Brunswick’s Debt and Deficit Problem: A Historical Look” and the authors are University of New Brunswick [...]