2013-14 Deficit Has Increased By $38.3 Million

The provincial government has released its second-quarter fiscal update--and despite $113 million in spending reductions, the province is reporting a revenue shortfall of almost $173-million dollars.

The revenue shortfall has caused the deficit for 2013-14 to increase by 38.3 million dollars from the first quarter to $538.2 million dollars.

Finance Minister Blaine Higgs is expected to schedule a pre-budget consultation meeting with key stakeholders throughout the province to discuss possible solutions to the revenue problems.