Deficit

City of Saskatoon facing $20 million deficit: report – Saskatoon

City of Saskatoon facing $20 million deficit: report - Saskatoon

A report, written by the City of Saskatoon administration, projects a $20.1 million deficit for the city. The two main reasons for the financial shortfall, it states, are lack of revenue caused by the COVID-19 pandemic and lockdown and expensive efforts to clean up after the recent blizzard. Administration …

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Kingston Health Sciences Centre running $3.8M deficit due to COVID-19 costs – Kingston

Kingston Health Sciences Centre running $3.8M deficit due to COVID-19 costs - Kingston

Kingston Health Sciences Centre is currently running a $3.8 million deficit to date for the 2020- 2021 fiscal year. These numbers run from the beginning of April to the end of September, representing half of the fiscal year. The deficit breaks down into two main categories: just over $10M …

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Newfoundland and Labrador budget projects $1.84-billion deficit

Newfoundland and Labrador budget projects $1.84-billion deficit

By Staff The Canadian Press Posted September 30, 2020 1:35 pm Smaller font Descrease article font size –A Larger font Increase article font size A+ ST. JOHN’S, N.L. – The Newfoundland and Labrador government is projecting an $1.84-billion deficit for the current fiscal …

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Canada ‘bets the farm’ on deficit spending amid coronavirus resurgence – National

Canada ‘bets the farm’ on deficit spending amid coronavirus resurgence - National

Canada‘s vow to double down on pandemic-related spending to keep the economic recovery underway in the face of a second wave of COVID-19 infections will support activity but raises questions over the burgeoning deficit, economists say. The Liberal government on Wednesday made sweeping promises of major new investments and …

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COMMENTARY: Trudeau overspent on COVID? Let’s see if voters care – National

COMMENTARY: Trudeau overspent on COVID? Let’s see if voters care - National

It’s pretty mind-bending to stop for a minute, take a deep breath, and think about all the money Ottawa has blown out the door in pandemic relief spending. The Justin Trudeau government projected back in May that it was on pace to spend $152 billion in direct support to …

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Whitby Abilities Centre requests $400K from town – Durham

Whitby Abilities Centre requests $400K from town - Durham

The Abilities Centre in Whitby has just reopened its facility after five months. However, like many other businesses, it has taken a huge financial hit and it’s now reaching out to the town, which is dealing with its own economic issues, for help. The centre, which provides accessible and inclusive …

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Saskatchewan government reports $319M deficit in 2019-20 fiscal year

Saskatchewan government reports $319M deficit in 2019-20 fiscal year

The novel coronavirus pandemic and an economic downturn impacted the provincial government’s progress to return to a balanced budget, according to the Saskatchewan Ministry of Finance. The government released the final results for the 2019-20 fiscal year on Tuesday. Related News Read more: University of Saskatchewan managing coronavirus …

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B.C. government set to provide financial update on July 14

B.C. government set to provide financial update on July 14

The B.C. government will provide a financial update on July 14 as the province grapples with the economic impact of the COVID-19 crisis. Finance Minister Carole James told reporters on Monday the province wants to wait until July to give an update in order to get another month of job …

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Canada’s deficit could reach $256B due to coronavirus spending, economic effects: PBO – National

Canada’s deficit could reach $256B due to coronavirus spending, economic effects: PBO - National

The parliamentary budget officer says in a new report that this year’s federal deficit could hit $256 billion due to the COVID-19 pandemic. The result, posted this morning, is the combination of an estimated total of $169 billion in federal spending on emergency aid and a historic drop in economic …

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Report recommends deferral of City of Kawartha Lakes 2021 budget due to coronavirus pandemic – Peterborough

Report recommends deferral of City of Kawartha Lakes 2021 budget due to coronavirus pandemic - Peterborough

The ongoing coronavirus pandemic is affecting how municipalities conduct finances and budgets, including in the City of Kawartha Lakes, where a $3.2-million shortfall is expected this year. According to a staff report for council on Tuesday, the municipality recalled $10 million in investments to address a shortfall in revenues. READ …

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