Quote:
Originally Posted by someone123
Most of the main points of the article do not apply to Halifax:
-A small-scale public stadium to be used for a variety of events is being discussed. Nobody is talking about expensive features like a retractable roof. If it were a $200M cadillac stadium I would not support it and I think many others would change their minds.
-There's very little talk of using this for urban revitalization.
-There's no present pro sports team involved and there is no discussion of ongoing subsidy to a team, only maintenance of a public asset.
-We don't already have a stadium; this isn't like the cases cited in the article where teams are complaining about having to play in 20 year old buildings.
I'm also not sure about your assertion that the province cannot pay. My understanding is that capital expenditures often are not included in the deficit; the debt can go up while the books are "balanced". This may or may not be desirable but I don't believe that the province can be counted out at this early stage.
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Your point is a good one.....here's my take on it... Capital Expenditures are usually borrowed to fund increasing the Provinces debt load....this in turn of course carries interest costs and possibly some repayment of debt....which would need to be budgeted for.
The problem really is....the NDP have never formed government in NS. They are still really feeling their way around. They have made some major blunders at the cost to taxpayer on the Provincial debt.
1) $200 million to buy forest property. (borrowed cash,increased debt)
2) $500 million to boost unfunded liability in Union pension fund (traded one liability for another, but borrowed to do it....now the pension is in a surplus situation....do we get our money back? nope)
3) $20 million loaned to Irving to upgrade equipment to bid on ship building. (added to the debt by borrowing money to lend it out to a private business????)
4) They raised the provincial portion of the HST by 25% (8- 10%) to fund a deficit budget, then Opppsy! geeee we actually have a surplus! But no wait....its not really a surplus because we double paid the university funding...so I guess the tax will stay.... WHAT!!!!
ARGGH ! Its really killing me when I hear Dexter say we have no money right now.........of course you have money.....he just hasn't taken it out of our pockets yet!