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.
Schools to remain closed Friday morning due to weather
Corner Brook MHA Jim Parsons gives first speech in the House of Assembly
Minister highlights the launch of Venture Newfoundland and Labrador III
The Canadian Taxpayers Federation wants the Rothschild and Company report released; it cost taxpayers $5.4M
