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.
Damage to Bell Aliant tower affecting cellular service in La Scie area
Police looking for stolen red F-150, credit card from inside used around Corner Brook
Corner Brook Mayor says snow clearing costs are "burning" the budget
American booze going back on the shelves and profits from sale going to foodbanks in NL
Finance Minister off to Ottawa for meetings on infrastructure needs and stronger Canadian economy
