FREDERICTON — New Brunswick's finance minister says he'll introduce legislation today aimed at making politicians more accountable.
Blaine Higgs says the Fiscal Transparency and Accountability Act will require political parties to provide the cost of their election promises or publicly state they have no estimate prepared.
He says it is irresponsible for political parties to make promises without knowing the financial impact on taxpayers.
Higgs says the legislation will also make governments more accountable for their annual budgets.
He says if there is a deficit the act will mandate that it be reduced by $125 million annually and if a surplus is reported then a surplus is required in the following year.
Higgs says there would be an administrative penalty of $2,500 for each cabinet minister if the government fails to reduce the deficit by the required amount, or to maintain the budget surplus.
