Newfoundland Budget

Equalization end? Oil-based boom expected in N.L. budget

Last Updated: Tuesday, April 29, 2008 | 8:21 AM NT


Newfoundland and Labrador's finance minister will table a budget Tuesday afternoon that could signal the end of the province's receipt of equalization payments.
Tom Marshall is expected to bring down a budget with a surplus of more — perhaps much more — than $500 million, driven largely by record oil prices.
Marshall was tight-lipped Monday at the house of assembly about what could be a historic budget. If economic conditions in the province stay positive and the price of oil remains relatively high, this could be Newfoundland and Labrador's last budget as an equalization-receiving province.

The $500 million surplus could be more like $1 billion dollars according to a reporter on CBC news this morning. The province will be using a lot of this money to upgrade roads, schools and other infrastructure that has fallen into disrepair over the years. Some of it will be used to help pay down the $10 billion dollar provincial debt.

those roads surely do need fixing. seriously it's getting so u need a 4x4 just to get down the road.

The haves are beginning to outnumber the have nots.

Not only that Lester, but the have nots are switching places with the haves....

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Cull the moose.

....and the seals.

Am I missing some secret economic code word Walter?

Moose kill more Newfoundlanders than guns.

It's not guns that kill people, it's moose that kill people. So take the guns away from the moose.

Perhaps Danny should create a dome around the highways so motorists can drive in peace. Next budget perhaps.

We can foot the bill until they get their sh*t together- the've done it for everybody else

Looks like cracks are developing in King Danny's armour. Mr. Rideout resigned from cabinet today over funding for roadwork in his district. I know the roads in that area and they are in terrible shape. Successive representatives have been trying for years to upgrade the area and make the roads safe for travellers. Guess the money is not trickling down to the peasants just yet.

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