Government shows a surplus even though a deficit was projected

    Tuesday, 31 October 2023 07:00

    By Tonya Organ

    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.

    To report an error, submit a news tip, or provide feedback, please e-mail news@bayfm.ca or call (709) 637-0183.

    More from Local News

     

     

     

    BayFM recognizes support from the following agencies:

                        

    Today's Weather

    • Corner Brook

      Light rain

      High: 17°C | Low: 14°C

    • Deer Lake

      Light rain

      High: 19°C | Low: 14°C

    • Stephenville

      Light rain

      High: 19°C | Low: 15°C

    Recently Played

    Podcasts

    • Trash Talk

      Trash Talk Thursday, August 13, 2026

      Thinking green for the NL Summer Games.

    • CB Nuit 2026

      CB Nuit 2026

      CB Nuit is coming up September 18-20 and the theme this year is "Flow".

    • NL Summer Games 2026

      Blaze's Corner, Thursday August 13, 2026

      The second half of the NL Summer Games starts today ( Thursday August 13). Darren Colbourne is a board member with Sport NL