Tory Leader Jamie Baillie said the increased surplus is a result of taxes that are too high, taking aim at the unpopular decision to hike the harmonized sales tax by two percentage points last July.That's right: even as their federal cousins show exactly how deep a hole one can dig by slashing taxes to the point where a government's budgets don't quite balance even at the best of times, the opposition to Canada's newest NDP government is insisting that it should be less responsible with the province's money.
But then, it's not as if there's some particular advantage to be had in paying down the province's debt, right?
The statements also reveal the province's net debt fell to $12.8 billion on 2010-11, a decrease of $217.8 million over the previous year. That will help the province avoid about $55 million annually in debt servicing costs, the Finance Department said.In sum, Nova Scotia's Cons are fully living up to the right's habit of refusing to accept responsible management when the alternative is reckless tax slashing. And it's well worth pointing out the distinction between an NDP which offers the former, and the Cons' obsession with the latter.
Still, that means the net debt for every man, woman and child in the province is $13,610.