You can use your smart phone to browse stories in the comfort of your hand. Simply browse this site on your smart phone.

    Using an RSS Reader you can access most recent stories and other feeds posted on this network.

    SNetwork Recent Stories

Prince Edward Island forecasts $17.9 million deficit for fiscal 2016 17 – CP

by pmnationtalk on March 15, 201719 Views

Source: The Canadian Press
Mar 15, 2017 11:11

CHARLOTTETOWN _ Prince Edward Island’s Liberal government is forecasting a $17.9 million deficit for the 2016-17 fiscal year, nearly double the $9.6 million deficit forecast in the budget.

The government blames the increase on a $30 million reduction in harmonized sales tax payments from Ottawa and an increase in spending by several departments.

It says the reductions were partially offset by higher tax revenues generated by the Island’s economy.

Finance Minister Allen Roach said that despite the figures reflected in the third-quarter update, the government is confident it remains on track for a balanced budget in the coming year.

The increased expenditures include an extra $16.2 million for in and out-of-province medical services and drug costs.

An extra $6.9 million was also spent on infrastructure projects while an over expenditure of $6.2 million was recorded for disability support and social assistance payments.


Send To Friend Email Print Story

Comments are closed.

NationTalk Partners & Sponsors Learn More