Monday, April 27th11.1°C
25850
24805

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

25538


Recent Trending




Today's Market
S&P TSX15402.20-6.13
S&P CDNX696.03-1.67
DJIA18134.85+54.71
Nasdaq5102.73+10.65
S&P 5002121.76+4.07
CDN Dollar0.8264+0.0059
Gold1197.90+22.70
Oil55.50-0.88
Lumber254.90-3.60
Natural Gas2.458-0.073

 
Okanagan Companies
Pacific Safety0.12-0.01
Knighthawk0.010.00
QHR Technologies Inc1.40+0.02
Cantex0.035+0.005
Anavex Life Sciences0.442+0.012
Metalex Ventures0.11+0.02
Russel Metals27.20+0.04
Copper Mountain Mining1.26+0.11
Colorado Resources0.095+0.000
ReliaBrand Inc0.004-0.001
Sunrise Resources Ltd0.04+0.01
Mission Ready Services0.215+0.015
Decisive Dividend Corporation1.80+0.10

 



25866

FEATURED Property
2089632#305-2770 Auburn Road
2 bedrooms 2 baths
$212,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


Buy versus rent

Consider the top five reasons to buy versus rent: #5 Experience Freedom: Home ownership will free you from the ties that bind you to a landlord...no longer will you be dependent on someone else&rsq...


What's your score?

There was a time when we would sit down with nothing more than a sheet of paper and a sharp pencil to do the math. Totalling our expenses and subtracting our revenue, the amount left over was the answ...


Do you dare to dream?

Photo: Thinkstock.comI have never been able to understand why some people can only see as far ahead as the end of the current day. Instead of aiming for long term goals, they just wallow in their ever...

_



26069




Member of BC Press Council


25541