Province Says The Deficit Will Slide Along With Revenue

The provincial government deficit is going down by more than 74 million dollars to a projection of just over 471 million dollars.

Lower spending by a number of government departments including Social Development is being cited in part.

There has also been a drop in government revenues which are now projected to be $36.5 million lower than was budgeted for.

The decline is being blamed on the weakened economy and forecasted drops in both personal and corporate income tax revenues together with less revenue from NB Liquor and gambling.