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I have a little math problem for Nova Scotians-
Nova Scotia Finance Minister Randy Delorey issued his fiscal forecast today for the 2015-16 budget. The projected deficit is now $122 million instead of the $97.6 million predicted at budget time. Source CBC news
Now; the Nova Scotian government has spent or will have spent $40 million on the NovaStar Ferry; which continues to lose money. Not to mention the tax payers dollars spent on the Bluenose II.
They say the cupboard is bare (which they have been saying for the last few decades)and YET, yet there is money for money losing ventures. What is wrong with this equation? —Bluesnozer
This article appears in Sep 24-30, 2015.
The price tag for the rebuild of Nova Scotia’s iconic schooner Bluenose II could balloon to $25 million, says the deputy minister of Communities, Culture and Heritage.
The schooner was supposed to return to regular sailing two summers ago after an extensive two-year rebuild at a cost of $14.4 million, with $7.2 million coming from Ottawa.
But the restoration has suffered from budget overruns and repeated delays, prompting Premier Stephen McNeil to ask the province’s auditor general to review the project. Source CBC news
Right now, the cost of the rebuild sits at nearly $19 million, but that doesn’t include $4.2 million in costs being disputed by the province.
That figure also doesn’t include other work that has yet to be accounted for or work that has yet to be done on the schooner, said Deputy Minister Kelliann Dean.
So…40 million for NovaStar + 19 or 23.2 million for Bluenose II= 59 or 63.2 million – the amount that the feds kicked in. Shhh…the Province is being run by buffoons….shhhh
Shhhh… the VG now needs replacing. But we need boats… Shhh…
The cost of replacing the VG Centennial Building is estimated to be roughly 1 billion dollars.
The capital budget (schools, highways, hospitals) for 2015-16 is 490 million. Of course the cost of a new hospital will be amortized over a number of years.
Shhh!
It would be smart for one of the federal parties vying for election to make a campaign promise to help the provinces with infrastructure – and more specifically for us, the replacement of the Centennial Building. Justin? Megan? Thomas? .. anyone?
Fuck our debt!!!! As a country we have not even paid back the first dollar we borrowed since our politicians have legislated away our right as a country to create wealth by using low interest loans borrowed from ourselves (Bank of Canada). Instead we like to pay compound interest to private banks that enslave us all. We will never pay back that money, either federally or provincially, so why worry about it. Fuck banks and fuck the world economy!!!!
The problem with the equation is a government doing what is popular instead of what is right. Without being able to set an individual’s self interest in being re-elected aside, I don’t think anyone is capable of making the right decision versus the decision that will likely lead to being re-elected.
Perhaps a restructuring of our political system, limiting a party to only one term, would lead to decision making that is motivated by what is best for the province and not the MLA.
The ferry will almost always lose money by itself. The problem is, we have no way of measuring how much money the province gets from the tourists the ferry delivers. Maybe it makes up for the loss and then some. Or.. maybe it doesn’t. Who knows? So far, it seems we’re banking on the tourism revenue to offset the additional ferry costs.