4.5M Surplus Projected In Nunavut Budget

Tapardjuk told MLAs that he was pleased to say Nunavut can expect $1.16 billion in revenue in the coming year and a $4.5-million surplus, avoiding a deficit in what is widely expected to be an election year. In light of the good news, Tapardjuk cautioned MLAs to set aside some money for any legislation they want to implement. "If we stick to the goals and priorities outlined in this budget, we will continue to make measurable progress on our journey to self-sufficiency and self-determination," Tapardjuk stated in his address. The surplus is mainly due to an increase in funding from Ottawa through the federal-territorial funding formula. This year, that formula is bringing $944 million — an extra $51.2 million — into territorial coffers. ... http://www.cbc.ca/canada/north/story/2008/02/20/nu-budget.html

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