By Canadian Press

Progressive Conservatives set to take power Friday in New Brunswick

Nov 5, 2018 | 11:15 AM

FREDERICTON — New Brunswick will get its next minority government on Friday, one week after the Liberals fell on a confidence vote in the provincial legislature.

Premier-designate Blaine Higgs, leader of the Progressive Conservative party, said Monday his government will be sworn into office on Friday and he is still in the process of deciding who will be in cabinet.

Higgs, who was finance minister in an earlier Tory government, said he toyed with the idea of taking on the finance position himself but has decided he simply will be “close” with whoever he names to the key role.

The former Irving Oil executive is considered a fiscal hawk. Higgs has made tackling the province’s financial woes a priority. Among other things, the net debt has swollen to more than $14 billion in the small province of about 750,000 people.

“I am questioning how we are spending at a rate of three per cent when we have no more than a one per cent rate of growth,” Higgs told reporters on Monday.

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He said there is a sense of urgency about New Brunswick’s worsening fiscal situation, especially with one of the major bond-rating agencies, the Dominion Bond Rating Service, warning of a possible downgrade to the province’s credit rating.

Higgs said he will meet with the agencies in the coming months to try to head off any downgrades.

“I want to stop the bleeding,” he said of the province’s finances.

The Tory leader has been meeting with provincial officials to prepare for the transition to office. He said he will meet Premier Brian Gallant on Tuesday morning to discuss the handover of power.

The Tory government’s throne speech will be presented on Nov. 20.

Standings in the 49-seat legislature are 22 Tories, 21 Liberals, three Green party members and three People’s Alliance MLAs. The Tories can stay in office with the support of the three Alliance members, which gives them the 25 votes needed for a majority.

Kris Austin, leader of the People’s Alliance, has said the party will support the Tories on confidence votes for at least 18 months.

Chris Morris, The Canadian Press

by Canadian Press

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Progressive Conservatives set to take power Friday in New Brunswick

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