Updated Provincial Budget Forecast, Today
Provincial finance minister Diana Whalen will provide an updated budget forecast, today. In June, audited financial statements for 2013-14 revealed the province’s deficit had ballooned to $678.9 million. Whalen projected a deficit of $279 million when she tabled the spring budget in April. She’s already warned that the province is in a tough financial situation because of an unexpected drop in revenues, higher departmental expenses and a one-time adjustment to the public service pension plan. Whalen will unveil the update in Halifax early this afternoon.