Debt management plan is key to support
March 25, 2010- Halifax, NS- The Halifax Chamber of Commerce wants the provincial government to set in place a debt management plan in the upcoming Provincial Budget that sees Nova Scotia clearly finding its way out of the red and back into surplus. “Minister Steele is currently touring the province seeking input on how to get the province’s finances ‘back to balance,’” says Chamber President Valerie Payn. “While ‘back to balance’ sounds good, the province really needs to think about getting ‘back to surplus’ - and a considerable and sustained surplus if it has any hope of paying down its large and growing debt.”
The Chamber is looking to the Province to lead Nova Scotia into the future, and into a surplus, with a smart, aggressive debt management plan outlined in the upcoming budget. “A well thought out and realistic debt management plan, and by management I mean repayment, is the key to continued support of the Government’s proposals to increase spending while increasing taxes.” says Payn.
In the Chamber’s recent Pre-Budget Submission to the Province the Chamber recommended that the province; Provide a deficit elimination program and debt management plan as an integral part of the 2010-2011 Budget, “We continue in our position that Nova Scotia must reduce its debt even though we agreed to a temporary suspension of the repayment plan to get through the economic challenges of the past few years. But time is running out on that excuse and it is time to get back to business.”
For more information contact:
Halifax Chamber of Commerce