The Employers’ Council is concerned with increased spending outlined in this year’s budget.

The province is borrowing another $2.7 billion this year, and while revenue is up, so is spending.

Executive Director Richard Alexander understands that some of that spending is necessary.

He says the extra spending on health care is warranted given the current challenges faced in the system. That equates to about $250 million more being spent that government initially intended. Alexander says while “it’s not the end of the world” in terms of a $9 billion budget, it is concerning.

His biggest concern is the cost of borrowing, and they’re seeing what he calls “really frightening” increases in the interest on the province’s credit card.

There’s a $40 million increase in interest on debt this year says Alexander. Net debt is going up to $17 billion which is hampering the province’s ability to address the rising cost of living.