B.C.'s budget deficit is projected to hit $1.14 billion this year due to plunging natural gas revenues, B.C.'s new Finance Minister Mike de Jong announced this morning. De Jong says falling natural gas revenues are expected to cost the province $1.1 billion over the next three years. Other natural resource revenues are down as well, meaning the province is facing a total drop of $1.4 billion in projected revenue over the next three years. As a result the government will have to find more than $1 billion in cost savings and cuts over the next three years, de Jong announced at his first quarterly update in Victoria on Thursday. The projected deficit for 2012 alone is up $173 million over earlier estimates and to make up for the loss the government will have to cutting spending by $241 million this year, he said.
DON QUIXOTE VS. CITY HALL When an American gets mad, he says "where's my Gun". When a Canadian gets pissed off he says "Where is my pen, I'm going to send a letter to the EDITOR". When the EDITOR won't publish his letter he sets up his own BLOG page. When I received enough support to get a Council Seat the dogma of the establishment became : "Better to have him inside the tent pissing out, than outside pissing in." (Only time will tell !)
Thursday, September 13, 2012
B.C. budget deficit projected to hit $1.14 billion
CBC News Posted: Sep 13, 2012 7:59 AM PT
B.C.'s budget deficit is projected to hit $1.14 billion this year due to plunging natural gas revenues, B.C.'s new Finance Minister Mike de Jong announced this morning. De Jong says falling natural gas revenues are expected to cost the province $1.1 billion over the next three years. Other natural resource revenues are down as well, meaning the province is facing a total drop of $1.4 billion in projected revenue over the next three years. As a result the government will have to find more than $1 billion in cost savings and cuts over the next three years, de Jong announced at his first quarterly update in Victoria on Thursday. The projected deficit for 2012 alone is up $173 million over earlier estimates and to make up for the loss the government will have to cutting spending by $241 million this year, he said.
B.C.'s budget deficit is projected to hit $1.14 billion this year due to plunging natural gas revenues, B.C.'s new Finance Minister Mike de Jong announced this morning. De Jong says falling natural gas revenues are expected to cost the province $1.1 billion over the next three years. Other natural resource revenues are down as well, meaning the province is facing a total drop of $1.4 billion in projected revenue over the next three years. As a result the government will have to find more than $1 billion in cost savings and cuts over the next three years, de Jong announced at his first quarterly update in Victoria on Thursday. The projected deficit for 2012 alone is up $173 million over earlier estimates and to make up for the loss the government will have to cutting spending by $241 million this year, he said.
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