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.
NL Summer Games will be here in Corner Brook and Stephenville in 12 days time
Applications being accepted until the end of August for grants through the Seniors’ Social Inclusion Initiative
Porter Airlines now flying out of Deer Lake on enhanced Dash 8 aircraft with the lightest seats in the world
Corner Brook council approves $50K contract to update the city's wastewater strategic plan
