Thursday, April 17th7.0°C
21417
20944

NL outspending all other provinces

Newfoundland and Labrador's auditor general says the province is spending 50 per cent more per person than the average of all other provincial spending in Canada.

Terry Paddon says the Progressive Conservative government will have to consider increasing revenues, cutting spending, borrowing or all of the above.

The province spent $7.8 billion last year -- up 66 per cent from 2003 -- as it forecasts a deficit of $726 million this year.

Paddon says losses from falling oil and mineral earnings are in addition to an aging population that will increase demands on public services.

He also flags soaring liabilities for unfunded public pension and health benefits for government retirees.

Premier Kathy Dunderdale has acknowledged that the province must cut spending and find efficiencies as it faces at least two years of forecasted deficits.

The Canadian Press


Read more Business News

20172


Recent Trending




Today's Market
S&P TSX14465.34+18.82
S&P CDNX997.32-0.65
DJIA16396.89-27.96
Nasdaq4082.772-3.454
S&P 5001861.24-1.07
CDN Dollar0.9097+0.002
Gold1299.40-3.70
Oil104.41+0.65
Lumber325.00-3.80
Natural Gas4.697+0.167

 
Okanagan Companies
Pacific Safety0.115+0.01
Knighthawk0.01-0.005
QHR Technologies Inc1.21-0.01
Cantex0.045-0.005
Anavex Life Sciences0.365-0.01
Metalex Ventures0.0750.00
Russel Metals30.72+0.17
Copper Mountain Mining2.40-0.02
Colorado Resources0.2650.00
ReliaBrand Inc0.12-0.01
Sunrise Resources Ltd0.025-0.005
Mission Ready Services0.22-0.01

 
19691


21100

FEATURED Property
18499598364 Dunn Lake Road
5 bedrooms 3 baths
$399,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Time spent prospecting

How much time should you put into prospecting? The question is a bit of a puzzle. Ideally, there would be a reference book that lists, by industry, how much time you should invest in prospecting acti...


Valuation fears grip markets

The Big Picture Valuation fears grip markets Growing concerns about the level of stock market valuations sparked a risk-off trade in global markets this week. Investors are worried that many companies...


Quick and nimble

Photo: ContributedFor many businesses this has been a tremendously difficult time since the 2008 crisis. Business fell off. Sales techniques that always worked, well… stopped working. Customers...

_



21641

21641


Member of BC Press Council


21188