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Tuesday, March 22, 2011

Board of Trade Okay With Provincial Budget

The Saint John Board of Trade is giving the provincial budget a thumbs up calling it a good start to balancing the books with a projected deficit of 449 million dollars. 

Board of Trade Chair Micheal Murphy is happy with tax rates for corporation falling to 10 per cent and 4.5 per cent for small businesses.

Murphy does say the provincial government will eventually have to get a handle on healthcare spending in order to balance the books or achieve a surplus. Provincial Finance Minister Blaine Higgs concedes he didn't have enough time prior to this budget to tackle that aspect of government spending.

The Board of Trade had called for an increase in the H-S-T which was rejected by the province.