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Tax revenue drives B.C. government to $1.5 billion surplus

from Merritt Herald

Low unemployment, economic growth and the introduction of new taxes led the B.C. government to take in nearly $3 billion more than budgeted in the year ended in March. Finance Minister Carole James recently released the province’s audited public accounts at the B.C. legislature, showing an operating surplus of $1.5 billion for the year, despite an increase in program spending of almost $2 billion in 2018-19 fiscal year. Taxation revenue alone rose $2.1 billion, and natural resources revenue also came in $695 million higher than expected in the 2018 budget, the first full year of the NDP minority government. more


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