B.C. government posted a $1.84 billion deficit last year
Jul 26 2012
Finance Minister Kevin Falcon addresses questions from the media, after presenting British Columbia's 2012 Budget at the Victoria Conference Centre in February.Photograph by: ADRIAN LAM , TIMES COLONIST
The B.C. government posted a deficit of $1.84 billion last year, higher than the $925 million predicted in the last budget but mostly due to the $1.6 billion HST repayment, finance minister Kevin Falcon announced Wednesday.
Not including the HST repayment to the federal government, Falcon said the government came within $241 million of balancing the budget in the fiscal year ending March 31 due to curbed spending, an economy that grew faster than the national average, and increased revenues.
The figures were contained in government's year-end financial summary, called the Public Accounts.
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