For Immediate release
Thursday, October 27, 2016
Board Responds to Province’s Fall Fiscal and Economic Update
The St. John’s Board of Trade remains concerned about the province’s financial situation in light of the Fall Fiscal and Economic Update provided earlier today. Despite a reduction in the deficit and borrowing requirements, the Board still continues to encourage government to gain control of their spending.
“While we welcome the commitments made today by the Provincial Government to reach their financial targets and enhance efficiencies, our financial situation in this province is still very serious.” says Des Whelan, Chair of the St. John’s Board of Trade. “It is urgent for government to gain control of spending. We encourage them to use innovation to improve service delivery and to develop a workforce plan to support a leaner public service. We look forward to the release of the Premier’s long term vision in the coming weeks.”
Earlier this week, the St. John’s Board of Trade launched their #HelpStopTheClock campaign which included a live debt clock as well as a banner for members to sign. The purpose of the campaign is to draw attention to the province’s financial situation and for citizens to realize that everyone has a role to play in controlling the provincial debt.
“Our level of debt is unprecedented.” says Whelan. “The provincial government is still spending more than they are taking in and as residents we have a responsibility to insist that government spend our tax dollars more diligently. #HelpStopTheClock signifies that we recognize and support decisive actions to control government spending.”
The St. John’s Board of Trade is a non-partisan, business advocacy organization that is the principal voice of business for more than 880 members in the St. John’s area. Its mission is to improve the local business climate, enhancing its members’ ability to do business through advocacy and member services. http://www.stjohnsbot.ca/