Sign Up for FREE Daily Energy News
CDN NEWS  |   US NEWS  | TIMELY. FOCUSED. REVELANT. FREE
  • Stay Connected
  • linkedin
  • twitter
  • facebook
  • instagram
  • youtube2
BREAKING NEWS:
Hazloc Heaters
WEC - Western Engineered Containment
Copper Tip Energy Services
WEC - Western Engineered Containment
Hazloc Heaters
Copper Tip Energy

Newfoundland and Labrador budget highlights


ST. JOHN'S, N.L. — Highlights from the Newfoundland and Labrador's new $8.1-billion budget presented Thursday:

­­­— Includes no new taxes or fees and slightly cuts spending by about $300,000.

— Projects an almost $800-million deficit, down from $1.1 billion last year.

— Includes offshore oil royalties of $962 million in 2016-17, almost double what was forecast, thanks to higher prices and productions. Almost $882 million projected in 2017-18.

— Cuts an unpopular gasoline tax by 8.5 cents per litre on June 1 and another four cents per litre on Dec. 1.

— Forecasts an average Brent crude oil price of US$56 per barrel this year.

— $316 million for Memorial University of Newfoundland to help maintain more affordable tuition.

— $120 for inclusive education, including more teachers assistants.

The Canadian Press



Share This:



More News Articles


New SHOWCASE Directory Companies

 

Muddy Boots
Axis Communciations
The Coverall Shop
Delta Remediation Inc.
Vista Projects Limited
Smart-Project Management Inc. / Trusted Pipeline Advisor
Di-Corp
Payload Technologies Inc.