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.
Police investigate a suspicious fire at a NLPower substation near Port aux Basques
Two Deer Lake residents caught breeching court ordered conditions
Stranded cargo ship in Cedar Cove will soon be cut in half and hauled to shore
New Brunswick man caught in Flat Bay driving a stolen vehicle that smelled of cannabis
Stephenville woman arrested during a break in at a business in Carbonear
