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NUNAVUT PLANS RED-INK BUDGET

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  • Lessard, George
    NUNAVUT PLANS RED-INK BUDGET Nunavut s second complete budget could lead the new territory into debt for the first time. Finance Minister Kelvin Ng introduced
    Message 1 of 1 , Mar 1, 2001
      NUNAVUT PLANS RED-INK BUDGET
      Nunavut's second complete budget could lead the new territory into debt
      for the first time. Finance Minister Kelvin Ng introduced introduced the
      2001 budget Tuesday afternoon.
      FULL STORY:
      http://north.cbc.ca/cgi-bin/view?/news/2001/02/28/28nunbudget

      Nunavut plans red-ink budget

      IQALUIT, NUNAVUT -
      Nunavut's second complete budget could lead the new territory into debt
      for the first time. Finance Minister Kelvin Ng introduced introduced the
      2001 budget Tuesday afternoon.
      Ng announced that the government would increase spending by twelve million
      dollars for 2001 and 2002.

      More Budget Stories:
      - More money for education
      http://north.cbc.ca/clips/ram-audio/28budedu.ram
      - Less spent on housing
      http://north.cbc.ca/clips/ram-audio/28budhou.ram
      - Housing story in Inuktitut
      http://north.cbc.ca/clips/ram-audio/28budhoi.ram

      (Note the above ram audio files are not
      accessible via gov.nu.ca networked computers)

      That gives Nunavut a total budget of about $679 million dollars for the
      upcoming year.

      This is the second straight year that the government has announced a deficit

      budget.

      It comes even though territorial revenues have declined over the last two
      years and are predicted to continue to fall.

      However, federal transfer payments which make up more than 90% of the
      territories' revenue are expected to increase.

      If the government sticks to the budget this year it will run a $34 million
      deficit, and end up $12 million in debt.
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