Budget include an additional $185 million in transfers from Ottawa.
Government Spending & Taxes
Forecasts project a -5.1 per cent decline in the province's GDP.
Such implicit or explicit assumptions invariably lead to unintended consequences.
A large government debt burden can negatively affect economic growth.
Government workers in Atlantic Canada received 11.9 per cent more (on average) in wages than their private-sector counterparts.
The one-time payment to seniors will cost an estimated $2.5 billion.
Total provincial government deficits will reach an estimated $63.0 billion this year.
Non-renewable resource revenue accounted for up to 27 per cent of total provincial government revenue.
After the COVID crisis has passed, Ottawa should find ways to encourage private-sector investment and hiring.
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