Thursday, December 03, 2015

Accounting hangovers from the last government

Well, last week we discovered the last government's projections on the budget were off by over $5 billion, moving from surplus to deficit.

Today we discover the shipbuilding programme for the Navy was using cost estimates from nearly a decade ago(?!) and the cost of sorting out the senior service is likely to be much much higher. (Good-bye F-35 & Eurofighter; hello cheapest(?) we can get.)

There's more to come, I'm sure.

I figured a while back that the last government probably had some shifty ledgers...


e.a.f. said...

Yes, it will be entertaining to see how the books really look. of course you can never depend upon a government to tell the truth about what is in the savings account if anything at all. It always varies. When they want to cut things, we're broke. when its election time, they did a good job and we have money in the bank.

its always interesting. Harper said we had a balanced budget. Paul Martin said the same thing. However, Paul Martin failed to pay their federal government's end of postal worker pensions. The federal government didn't pay their share for 19 yrs. Then along comes harper and says, he can't afford postal worker pensions so he's going to get rid of all of them, but decided to keep all 22 vice presidents.

My thought, just don't trust too many governmetns when it comes to money.

North Van's Grumps said...

Shipbuilding in Canada?? when Versatile Pacific Shipyard (North Vancouver) were awarded the Polar 8 icebreaker the local newspaper ran a cartoon: Billion dollar contract goes to the North Shore of Burrard Inlet, Quebec gets the $2 Billion contract to build the icebergs.

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