UPDATED: Liberals Promise Balanced Budget Within 3 Years

New Brunswick’s Liberal leader says he plans to run a deficit over the next couple of years.

But Kevin Vickers is promising to present a balanced budget by no later than the third year of his mandate.

“While the pandemic has had a negative impact on our finances, we believe it’s important to bring the books into balance as soon as possible,” said Vickers.

To do this, Vickers said the Liberals would look for “operational efficiencies” while growing revenue through a more robust economy.

A guiding principle, he said, will be to leverage provincial dollars with the federal government, municipalities and the private sector.

“We will ensure that our economic recovery serves as an effective bridge to a balanced budget. We will not balance the books on the back of the most vulnerable people of the province, or our struggling businesses, like Mr. Higgs is doing,” said Vickers.

During a stop in Saint John, Vickers was asked if his party would raise taxes in order to get the province back in the black.

“I have no intention of raising taxes in New Brunswick, especially at this time where our economy has just gone through the worst financial retraction in the history of our province and the history of our country,” he said.

Plan To Help Restaurants, Bars

Vickers also announced plans to implement a wholesale pricing policy for restaurants and bars for liquor purchases.

The Liberal leader said the policy would aim to help an industry struggling to rebound from the pandemic.

“This is a policy the industry has been asking for some time now. Other jurisdictions do it and now is the time to implement this before we see more businesses fail and more people put out of work,” said Vickers.

Vickers cited Restaurants Canada numbers which show six per cent of residents work in the bar and restaurant industry. The policy would be reviewed after a year to see how effective it is, he said.

“Our bar and restaurant industry is a major part of our economy, and they are looking for help. The Higgs government did nothing to help and we are going to change that,” he said.

Meanwhile, Vickers said he is also committed to tax reform and ensuring industrial taxes remain in the communities where they are collected.

“I’ll implement this tax reform when I’m assured that the monies have been realigned from within ensuring that no municipality across the province of New Brunswick receives less money than they are now,” he said.

Vickers said tax reform is an issue that has been “kicked down the road too often” and must be looked at.

Liberal leader Kevin Vickers is in #SaintJohn this afternoon, where he’s announced he would implement a wholesale pricing policy for restaurants and bars for liquor purchases. pic.twitter.com/AnrK56vN8l

— Brad Perry (@BradMPerry) September 2, 2020