Go figure: 13 numbers to know about Thursday's budget
Reading an annual budget can be like taking a sip of water from a fire hose. While Finance Minister Cathy Bennett read an 18-page speech in the House of Assembly, the government released hundreds of pages of documents, tables and charts that outline the province's fiscal condition.
Here are some figures you should know about Newfoundland and Labrador's latest budget.
$8,116,496,000
Total expenses for the upcoming budget year. The Newfoundland and Labrador government expects to spend about $283,000,000 less this year than it did in the previous fiscal year.
$3.28 billion
How much the government will spend on salaries and benefits for employees.
$777,551,000
Projected deficit for the 2017-2018 year. The Liberals started the last fiscal year with a $1.83-billion deficit. This year's deficit projection is slightly better than where the Liberals wanted to be at this point, in their plan to eliminate the deficit by 2022.
$1.1 billion
The revised deficit for the fiscal year that just ended.
$1.1 billion
How much the government will spend this year servicing its debt, and related expenses.
12.5 cents
How much of the 16.5-cent-per-litre temporary gas tax will be eliminated within the next eight months. On June 1, 8.5 cents will be removed; another four cents will be lopped off on Dec. 1.
$56 US
Forecasted price of Brent oil for the year to come. One year ago, the government was anticipating Brent to be $40 US.
$881.7 million
Offshore royalties that Newfoundland and Labrador plans to collect in the coming year. Last year, the government anticipated collecting about $500 million, but it actually pulled in $962 million, because of higher production and prices.
$500,000
Extra spending for student assistants, to help address problems with inclusive education.
$485.4 million
Amount the government will spend on Nalcor Energy this year by means of an "equity investment."
38.9 per cent
Health care's share of government spending; by far, it's the largest slice of government spending by sector. By contrast, education accounts for 10.6 per cent of expenses.
$73 million
Amount to be spent on mental health supports over a 10-year program. An additional $7.5 million is earmarked for work this year on the forthcoming replacement for the Waterford psychiatric hospital. In Corner Brook, $13.2 million will be spent developing the much-delayed regional hospital there.
3
Number of new Crown attorneys the government will hire to ensure more court cases are not thrown out in light of the R. v Jordan decision of the Supreme Court of Canada, which set tighter limits on how long an accused person can wait for trial.