Close X
Wednesday, November 13, 2024
ADVT 
National

B.C.'s Budget Surplus Up Despite Millions Spent On Forest Fires And Floods

Darpan News Desk Darpan, 09 Sep, 2014 12:28 PM
  • B.C.'s Budget Surplus Up Despite Millions Spent On Forest Fires And Floods
Finance Minister Mike de Jong says the high cost of fighting forest fires and floods this year has cut into B.C.'s budget, but the province is still posting a surplus.
 
First quarterly results show the budget for 2014-2015 is forecast to have a $266 million surplus, up $82 million from what was predicted in the budget last February.
 
De Jong says revenues were up by $515 million, but that was partly offset by $433 million in expenses, mostly spent on fighting wildfires and for flood-related emergency programs.
 
The cost of fighting wildfires this year is expected to hit $350 million.
 
De Jong says the government has also moved to lower taxpayer-supported debt by $785 million, helping the province maintain its AAA credit rating.
 
Despite B.C.'s increased surplus forecast, the finance minister says he's slightly downgrading the forecast for economic growth this year to 1.9 per cent, from two per cent.

MORE National ARTICLES

Canadian warship buzzed by Russian jet during Black Sea military exercise

Canadian warship buzzed by Russian jet during Black Sea military exercise
A Canadian frigate taking part in a NATO exercise in the Black Sea was buzzed by Russian military jets off the southern coast of Ukraine on Sunday.

Canadian warship buzzed by Russian jet during Black Sea military exercise

GM Canada accused of ambushing dealers with wind down agreement in 2009

GM Canada accused of ambushing dealers with wind down agreement in 2009
A lawyer for former GM Canada dealers says the automaker deliberately ambushed and misled them in 2009 when it downsized its retail network.

GM Canada accused of ambushing dealers with wind down agreement in 2009

Battle over Canada's controversial prostitution bill spilling into the Senate

Battle over Canada's controversial prostitution bill spilling into the Senate
The second stage of the federal government's race to pass a bill governing prostitution by the end of the year begins today.

Battle over Canada's controversial prostitution bill spilling into the Senate

Justice minister insists new prostitution bill will protect sex workers

Justice minister insists new prostitution bill will protect sex workers
Canada's justice minister is insisting that once passed, the Conservative government's new prostitution bill will mean safer conditions for sex workers.

Justice minister insists new prostitution bill will protect sex workers

Man gets nine-month conditional sentence for threatening police in Moncton

Man gets nine-month conditional sentence for threatening police in Moncton
A 24-year-old man who pleaded guilty to uttering threats against police officers in Moncton has been sentenced to a nine-month conditional sentence, with the first three months to be spent under house arrest.

Man gets nine-month conditional sentence for threatening police in Moncton

US judge convicts ex-nurse of attempting to assist Canadian's suicide

US judge convicts ex-nurse of attempting to assist Canadian's suicide
An ex-nurse who admitted going online and encouraging people to kill themselves was convicted Tuesday assisting the suicide of an English man and attempting to assist in the suicide of a Canadian woman.

US judge convicts ex-nurse of attempting to assist Canadian's suicide