Province Projecting Slightly Smaller Deficit

by Bobby NockSeptember 29, 2021

The province is projecting a slightly smaller deficit for this fiscal year.

Finance Minister Allan MacMaster presented the new Progressive Conservative government’s first budget update this afternoon.

The deficit for 2021-22 is now expected to be about $444.5 million.

Total revenue is projected to be about $12.2 billion, up by $406.8 million from budget.

The province says that’s mainly due to an increase in personal income tax, a one-time increase to the Canada Health Transfer and a one-time increase in federal funding for the Offshore Accord.

Bobby Nock

Bobby grew up in Whycocomagh before moving to Halifax to attend university where he earned a Bachelor of Arts and a Bachelor of Journalism degree. After university, Bobby moved back to Cape Breton where he began working as a freelance journalist and has done work for both print media and as a broadcast journalist. As the News Director, Bobby Nock will get your day started by bringing you information that helps connect you to the community with all the latest in local news.

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