NDP wants to spend surplus instead of reducing debt

The Newfoundland and Labrador government is going to post an unexpected surplus this fiscal year $755.8 million, and NDP leader Lorraine Michael is criticizing Finance Minister Tom Marshall’s announcement that it will be used to service the province’s debt. “Everybody is supposed to be very pleased with it, yet they just see it as an opportunity to put more money down on the debt,” said Michael. The NDP say that the $755 million should be used to pay for seniors’ needs, municipal infrastructure, and secondary education. Newfoundland’s debt currently sits at $8.7 billion. If you had credit card debt of $8,700, and you unexpectedly came across $755.80, what would YOU do? Consider the interest payments you would probably save in the long term on almost a billion dollars.

Source: CBC

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