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New Brunswick forecasts nearly $300 million deficit as result of COVID-19

Deal Fanatic
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Jan 9, 2011
9312 posts
10863 upvotes
Vancouver
FreshCo wrote: Damn! And yet not a single person in New Brunswick died from COVID and only 121 people contracted it.
So the strategy obviously worked. I guess you think that if there were several thousand cases and a few dozen deaths, New Brunswickers would have gotten more bang for the buck..?
Deal Addict
Apr 14, 2017
1967 posts
612 upvotes
DT Calgary
Kiraly wrote: So the strategy obviously worked. I guess you think that if there were several thousand cases and a few dozen deaths, New Brunswickers would have gotten more bang for the buck..?
I was expecting that response. Ultimately, it gets to what you deem as an acceptable amount of financial hardship to spare a few peoples lives. If 1 person died due to COVID in NB, was it worth $300 Million? Or if the restrictions were not as economically draining, only costing $25 Million, and say 50 people died? Or handled in a manner similar to Taiwan, where their economy only took a minimal hit and had 7 deaths - Taiwan is now essentially back to the way of life they had before this whole fiasco started.

I'm sure the pandemic response will be studied for years to come.
Sr. Member
Jun 4, 2013
532 posts
206 upvotes
Vancouver
That's nothing. Compare to how much the federal gov have already spend and there seems to be no signs of stopping (every morning JT just goes on TV and spend millions and billions) and that's just the bail out. What about future and long term programs or financial aid when we start opening and business are going bankrupt? I live in BC and tourism basically won't recover at least for a few years. Restaurants, hotels, bars service industry is going in for a rough ride. Then you have retailer who is going get hit hard as well.
Banned
May 20, 2020
464 posts
310 upvotes
City of Toronto
‘Pandemic deficit:’ Saskatchewan says COVID-19 factor in $2.4B shortfall
Finance Minister Donna Harpauer tabled a full 2020-21 pre-election spending plan Monday after submitting only expense estimates in March. Officials said at the time that economic shutdowns to prevent spread of the novel coronavirus, along with a fall in oil prices, made it too unpredictable to properly forecast revenues.

The government now expects to take in $1.2 billion less than the previous year. It forecasts revenues to be at almost $13.7 billion, while spending is earmarked at $16.1 billion.

Included in the budget is an extra $2 billion that Premier Scott Moe promised in May to add to the province's existing two-year capital plan. It is to be spent on infrastructure projects and highway upgrades to create jobs and stimulate the economy.

Harpauer said the budget forecasts more than $500 million in new expenses related to programs to support people through the pandemic, including previously announced initiatives such as $50 million in help for small businesses. There is a provincial sales tax credit for people who purchase a newly built home.

The province said $200 million has also been set up as a contingency to deal with a possible resurgence of the virus later this year.

Harpauer emphasized that Saskatchewan is faring better than other provinces, in terms of people who have been able to keep working during the pandemic.

She characterized the shortfall as a “pandemic deficit” rather than a larger, structural one. And she added it's smaller than what's being looked at by other parts of Canada.

Saskatchewan is the first province to build a budget around the pandemic. It's one of the largest deficits in the province since the early 1990s.
Deal Expert
Feb 29, 2008
25184 posts
3098 upvotes
Montreal
ConsoleWatcher wrote: ...but slightly less people died, so I guess it's worth it?
In the case of NB very very few people died and they contained the outbreak better than most provinces. Id say their strategy was a resounding succes from a public health standpoint.

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