This surplus is primarily related to an increase in revenues of $1.1 billion compared to the original estimate, mainly due to higher than anticipated taxation revenue and offshore royalties.
Government has a $323.1 million surplus for the fiscal year that ended March 31st. That’s a $674.5 million improvement compared to the original estimated deficit of $351.4 million. This surplus is primarily related to an increase in revenues of $1.1 billion compared to the original estimate, mainly due to higher than anticipated taxation revenue and offshore royalties. This was offset by an increase in expenses of $445.5 million compared to the original estimate.
Province wide fire ban in effect until September 7th
18 year old woman dies after being trapped underneath an ATV in Nain
RNC looking for the driver of a red Dodge Ram that crashed into a Corner Brook house
More communities on the east coast being evacuated and province wide fire ban in place
Woman stopped in Doyles on the weekend could be facing an impaired driving charge
