Message from the Chairman - 2013-2014 Provincial Budget

The New Brunswick Government released their 2013- 2014 budget yesterday afternoon and your Saint John Board of Trade has provided feedback to several media outlets. We are very concerned that this budget continues to lead New Brunswick down a path where we are living beyond our means


The Saint John Board of Trade's pre-budget submission called on this government to make the tough decisions necessary to eliminate the deficit. We understood that this would result in increased revenue generation though taxes and fees. The corporate tax increase in this budget is within reason and keeps us competitive with neighbouring provinces. However, the increases in income taxes are a further burden on our already struggling small businesses as New Brunswicker's will have less disposable income to support local entrepreneurs. This income tax increase will undoubtedly slow down our economic recovery.

Our position is that the budget should be balanced though tough spending cuts not adding revenue. This budget does not invest wisely, where the return on our dollar is more urgently required. As an example there are no structural changes to our health care system, which continues to cost more than we can afford. The budget does little to rationalize services and it makes it more difficult to attract physicians to our province. On the other hand our post secondary education system, where 90% of research and development in our province happens, is being asked to do more with less.

Our province needs to make tough economic decisions with how we spend our money and this budget fails to do so. The Saint John Board of Trade would be able to support the revenue increases if it meant that expenses would be decreasing at a higher level. However we cannot support a budget that asks New Brunswickers to pay more for services we cannot afford.

Larry Hachey, Chairman
Saint John Board of Trade
email: lhachey@sjboardoftrade.com