Post by diogenes on Nov 27, 2004 12:25:41 GMT -5
BC Surplus Windfall
The B.C. budget surplus is now expected to be over $2 billion after an unexpected $1.2 billion comes from Ottawa.
The $1.2 billion comes as part of Canada's equalization program as BC being a "have not" province."
For 2004-05 B.C. expected $36 million from the program. Instead it will get $800 million. For 2005-06 $6 million was expected. Now $600 million is expected.
Finance Minister Gary Collins says most of the money will go to reducing B.C.'s $37 billion debt.
BC's surplus this year was originally projected to be $1.2-billion.
A quarterly report on BC's finances is expected out next week.
The B.C. budget surplus is now expected to be over $2 billion after an unexpected $1.2 billion comes from Ottawa.
The $1.2 billion comes as part of Canada's equalization program as BC being a "have not" province."
For 2004-05 B.C. expected $36 million from the program. Instead it will get $800 million. For 2005-06 $6 million was expected. Now $600 million is expected.
Finance Minister Gary Collins says most of the money will go to reducing B.C.'s $37 billion debt.
BC's surplus this year was originally projected to be $1.2-billion.
A quarterly report on BC's finances is expected out next week.