Fall fis­cal up­date

The Telegram (St. John’s) - - LOCAL -

• Pro­jected deficit at $852 mil­lion, up from $778 mil­lion pro­jected on bud­get day

• Off­shore roy­al­ties are down, from $882 mil­lion ex­pected to $735 mil­lion

• Un­em­ploy­ment is up, with the un­em­ploy­ment rate ris­ing faster than ex­pected, from a fore­cast 13.9 per cent to 15.1 per cent

• Per­sonal in­come tax is down by about $150 mil­lion, but the ma­jor­ity be­ing fall­out from an over­state­ment by the fed­eral gov­ern­ment

• Ex­pected rev­enue from cor­po­rate in­come tax is up, mov­ing from an es­ti­mated $342 mil­lion to $409 mil­lion, due in part to im­prove­ments for iron ore

• The net debt as of March 31, 2018 is pro­jected to be $14.7 bil­lion

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