Posted by & filed under Advanced Accounting, Canadian Government.

Description: One unusual outcome of the current corona virus situation may have been the unusual co-operation at the Legislative Assembly of New Brunswick on Friday. While budget debates are often long and perhaps divisive, this year in NB the budget and an additional bill passed in 17 minutes, with no one voting against the budget. With NB’s government in a minority situation, there had been some earlier thought that the government might fall. But with so many preoccupied by the COVID-19 situation, the consensus seemed to be it was not time for a spring election.

Date:  March 13, 2020

Source:  cbc.ca

Link: https://www.cbc.ca/news/canada/new-brunswick/green-leader-pc-budget-1.5496809

 

Discussion points:

1) Would you like to see more of this type of co-operation in our political system?

2) Why do you think the tradition is that if a government cannot pass its budget that the government must fall?

3) In Wiley’s Advanced Accounting by Fayerman you will find a chapter on accounting in the public sector using PSAB rules. Why is the budget so central to financial reporting of governments?

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