The Huffington Post:
Despite promising to run a surplus in its first year in government, the NDP will most likely run a deficit — unless it dips into the employment insurance fund to pad its bottom line.
The NDP released a fiscal plan Wednesday projecting a $4.1-billion surplus in 2016-2017, but several experts told The Huffington Post Canada that number is misleading and wildly unrealistic.
Using the NDP’s numbers and the parliamentary budget officer’s more up-to-date estimates based on a Bank of Canada July forecast for economic growth, the NDP’s bottom line is a $2-billion surplus that includes a $1-billion contingency.
But when the employment insurance balance — $3.5 billion, according to the NDP and the Finance department’s projections — is subtracted, the NDP’s budget for 2016-2017 comes to $1.49 billion deficit.
“The surplus itself includes the surplus in the EI,” NDP Quebec candidate Guy Caron confirmed Thursday.