[ErickMontreal]

Saint John Board of Trade applauds positive economic developments in municipal budget

January 16 , 2007

No increase in the municipal tax rate, $5.4-million new revenue in 2006, and a focus on the capital budget are just some of the reasons the Saint John Board of Trade is supportive of the budget released at last evening’s City Council meeting.

“Going over the figures, we can see that some much needed improvements will happen through the capital budget including $19-million to be invested in new police headquarters, a $11-million parking facility for the uptown area, and $7-million for City transit,” says Bob Manning, Chairperson of the Board of Trade. “Although there has been good progress on the budget, there still remains the City’s pension issue, that if not resolved will continue to take funds from projects that would create real growth for the City.”

Levels of service will not change this year from 2006 as the City works to resolve the pension issue. “In a year when the City has successfully generated additional revenue we would expect to see an increase in the level of services we receive,” says Manning. “Moving forward, we hope to see greater investments in infrastructure and programs. In reviewing the progress made over the past three years, we realize that cumulative service levels are up.”

The Board of Trade is also very pleased by Common Council’s decision, and the Mayor’s leadership, to once again hold the tax rate which will attract new businesses to our community and support positive economic development. “The job of Council is to make tough decisions and they have” continued Mr. Manning. “Council committed to hold the tax rate during their mandate and we expect they will live up to their commitment.”