{"id":740640,"date":"2026-06-16T14:20:10","date_gmt":"2026-06-16T14:20:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/740640\/"},"modified":"2026-06-16T14:20:10","modified_gmt":"2026-06-16T14:20:10","slug":"advisor-warns-substantial-action-needed-on-provincial-debt","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/740640\/","title":{"rendered":"Advisor Warns Substantial Action Needed on Provincial Debt"},"content":{"rendered":"

\t\t\t\t <\/p>\n

\t\t\t\t\"Advisor<\/p>\n

Larry Short of Short Financial (Submitted photo)<\/p>\n

A local financial advisor says\u00a0the provincial government<\/a> will likely have to do something \u201csubstantial\u201d to satisfy the credit rating agencies that it is serious about addressing its debt.<\/p>\n

While there\u2019s been no change in the province\u2019s credit rating, S&P Global Ratings adjusted the\u00a0economic outlook from stable to negative<\/a> last week based on the risk of rising deficits.<\/p>\n

Larry Short of Short Financial, a division of iA Private Wealth, says it doesn\u2019t matter how rosy the province\u2019s economic prospects look, the credit rating agencies want to see action on spending and debt.<\/p>\n

\u201cIn order to satisfy the credit rating agencies, it\u2019s going to have to be something substantial.\u201d<\/p>\n

Short says the highest costs involve health care and possibly government salaries.<\/p>\n

That\u2019s problematic for governments because the necessary decisions\u00a0are not\u00a0politically popular.<\/p>\n

\u201cIt will be very difficult to keep a caucus together if there is for example, a hospital that is closed in some district. That that member standing up and saying \u2018I\u2019m not putting up with this, I\u2019m gong to walk across the floor,\u2019 is a distinct risk. But that is the sort of large-scale cuts that had to be done to meaningfully say that the costs are going to be reduced in some fashion.\u201d<\/p>\n

\u00a0<\/p>\n

\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":" Larry Short of Short Financial (Submitted photo) A local financial advisor says\u00a0the provincial government will likely have…\n","protected":false},"author":2,"featured_media":740641,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[45,49,48],"class_list":["post-740640","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-ca","tag-canada"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/740640","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=740640"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/740640\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/740641"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=740640"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=740640"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=740640"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}