Less black ink in budget estimates

Finance minister Randy Delorey, in his fiscal update yesterday said the budget surplus is shrinking. It’s estimated now at $12.1 million…down $5 million from April’s budget.

Delorey also said the new numbers mean there’s no money to sweeten salary offers to the teachers and other civil servants.

The reduction is blamed on a $45.5 million dollar drop in tax revenues as well as a decrease in anticipated revenues because of the delay in opening the Nova Convention Centre.