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Commitment 1 / Engagement 1

septembre 19

Disclosure Statement Concerning an Election Commitment
(Transparency in Election Commitments Act, S.N.B. 2018, c.1, ss.4 and 5)

 P 10 005

(2024-03-14)

 

Part A:  Election commitment
Registered political party Progressive Conservative Party of New Brunswick
Number 1
Title HST Cut
Description

 

 

 

 

 A re-elected PCNB government will reduce the province’s HST rate from 15 to 13 percent. The two-percentage reduction will be phased in over two years, beginning with the 2025/2026 budget.
Type of commitment   Party commitment      Leader commitment
Party platform reference Platform has not yet been published

 
Type of disclosure statement Check one of the boxes:

 

(a) Cost estimate; i.e., an estimate of the commitment’s cost or financial implications.

 

(b) Maximum cost statement; i.e., if the commitment relates to a new or expanded program or service, the maximum cost to which the party commits if it forms the next government.

 

(c) An estimate of the financial implications of the election commitment has not been prepared because:

 

Insufficient information was available to prepare a cost estimate;

The election commitment will not have financial implications for the Province; or

The party declines to prepare a cost estimate or a maximum cost statement with respect to the election commitment.
Complementary disclosure statement

 

 If a maximum cost statement is checked above and the election commitment indicates it will also increase or reduce revenue, the following disclosure statement is also filed:

Number and Title

 

 

Part B:  Financial implications
Fiscal Year 2024-25 2025-26 2026-27 2027-28 2028-29 Subsequent Total
Operating Budget – Revenue $0 ($225,000,000) ($450,000,000) ($450,000,000) ($450,000,000)   ($1,575,000,000)
Operating Budget – Expenses              
Capital Budget – Expenditures              
        These financial implications are included in the Summary of Election Commitments filed with this disclosure statement.

 

Part C:  Additional required information
Each significant assumption made in determining the cost estimate or maximum cost statement.

 

·        That the 2% reduction in HST would be phased into over two fiscal years, one percentage point at a time, beginning with Budget 2025/26.

 

 

 

 

 

 

 
The sources of information used in preparing the cost estimate or maximum cost statement.

 

·        Publicly available budgetary documents from the Government of New Brunswick.

 

 

 

 

 

 
The computations done to prepare the cost estimate or maximum cost statement.

 

 

·        That based on recent publicly available budgetary documents from the Government of New Brunswick, each provincial HST percentage point reduction is estimated to be $225,000,000 in value.

 

 

 

 

 

Part D:  Publication
 

This disclosure statement has been made public by the registered political party; i.e., by or through any media, including a press release, a post on a website or any other public information media.

 

Part E:  Signature
 Official representative of the registered political party, or

Chief agent of the registered political party

 Nom

Wesley McLean
Written signature

 

 

 Date
or Electronic signature (Type name)

Wes McLean

 

 Date   September 19, 2024

 

 

Transparency in Election Commitments Act, s.5(1) / Loi sur la transparence des engagements électoraux, par. 5(1)
Registered Political Party: / Parti politique enregistré : Progressive Conservative Party of New Brunswick
Summary of Election Commitments to Number: /
Résumé des engagements électoraux au numéro :		 1
Cost Estimates / Estimations des coûts
Number / Numéro Title of Election Commitment /
Titre des engagements électoraux		 2024-25 2025-26 2026-27 2027-28 2028-29 Total
OPERATING BUDGET – REVENUES /
BUDGET DE FONCTIONNEMENT – RECETTES
1 HST Cut                               –             (225,000,000)             (450,000,000)             (450,000,000)             (450,000,000)      (1,575,000,000)
                            –
Total Increase in Operating Budget – Revenues /
Augmentation totale du budget de fonctionnement – revenus		                               –             (225,000,000)             (450,000,000)             (450,000,000)             (450,000,000)      (1,575,000,000)
OPERATING BUDGET – EXPENSES /
BUDGET DE FONCTIONNEMENT – CHARGES
                            –
                            –
                            –
                            –
Total Increase in Operating Budget – Expenses /
Augmentation totale du budget de fonctionnement – charges		                               –                               –                               –                               –                               –                             –
Operating Budget – Revenues less Expenses /
Budget de fonctionnement – recettes moins charges		                               –             (225,000,000)             (450,000,000)             (450,000,000)             (450,000,000)      (1,575,000,000)
CAPITAL BUDGET – EXPENDITURES /
BUDGET D’INVESTISSEMENT – DÉPENSES
                            –
                            –
                            –
Capital Budget – Total Expenditures /
Budget d’investissement – dépenses totales		                               –                               –                               –                               –                               –                             –
Net Financial Implications for Operating and Capital Budgets /
Incidences financières nettes sur les budgets de fonctionnement et d’investissement		                               –             (225,000,000)             (450,000,000)             (450,000,000)             (450,000,000)      (1,575,000,000)

Détails

Date :
septembre 19
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