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