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.
Read more Business News
- Shopping cart fireKelowna - 11:37 am
- Joe Rich wildfire containedKelowna - 11:28 am
- Back to schoolBC - 6:47 am
- Castanet's weekly weatherCentral Okanagan - 5:00 am
|QHR Technologies Inc||1.27||-0.10|
|Anavex Life Sciences||0.2195||-0.0035|
|Copper Mountain Mining||2.40||-0.26|
|Sunrise Resources Ltd||0.02||-0.005|
|Mission Ready Services||0.27||-0.02|
“Is this a fair offer from ICBC?”…. “How much should I settle for?”… “What is my claim worth?” These are just some of the questions I regularly get as...
Last night I was privileged to be able to speak at the Greater Westside Board of Trade business awards dinner. Photo: ContributedI talked about Innovation and Collaboration which are two very interes...
There will be a time when you will need to decide who you should appoint as executor of your Will. As well, there may be a time when you will be asked by someone to act as the executor of his or her W...