BR NS Financial Update – CP

Source: The Canadian Press – Broadcast wire
Aug 10, 2016

HALIFAX – Nova Scotia’s finance minister has released the final numbers for the province’s deficit and it’s far lower than originally estimated for 2015-16.

Randy Delorey provided the 10.7-million dollar deficit figure in the consolidated financial statements released yesterday.

That’s down quite a bit from the original estimates that called for a deficit of over 97 million dollars.

The opposition Tories are saying it’s worrying to see how far off goverment projections are, and say it appears Nova Scotians are paying more in income tax that originally expected.

The N-D-P say the low deficit is coming at the expense of social services to the poor and elderly.

N-D-P Leader Gary Burrill says it’s also strange that back in December the Liberals were predicting weaker revenues, just as they pushed through wage restraint legislation.

Delorey says it was just a matter of getting fresh numbers from Ottawa.

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(The Canadian Press)

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