Economic and fiscal developments in New Brunswick. (Canada)

Tax Executive | July 1, 1993| | Copyright

What is going on in New Brunswick is inextricably linked to developments at the national, and indeed at times, the international level. The government deficit and debt situation is not a new phenomenon. It has been at least a decade in the making, and it took the latest recession to bring attention to a significant "structural" problem that had been imbedded in government finances since the late 1970s. A structural problem exists when the long run spending growth rate is greater than the capacity of the economy.

The government's financial position has been a net ...

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