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.
UPDATE: Police have recovered a stolen Dodge Caravan from Deer Lake
Appointments now being made for spring cleanup in Corner Brook; call 637-1666 or go to cornerbrook.com
Qalipu busy with career fairs, a traditional use study, a bird survey and more this month
Schools to remain closed Friday afternoon due to weather
Corner Brook MHA Jim Parsons gives first speech in the House of Assembly
