Ottawa has warned that the budget surplus will be lower than expected next year as oil revenue is lower and the cost of the income-splitting and other tax cuts.
Ottawa has warned that the budget surplus will be lower than expected next year as oil revenue is lower and the cost of the income-splitting and other tax cuts. That said, it will be the first surplus since before the crisis with $4.9 billion (rather than the $6.4 predicted in the February budget) and the 2016 budget is now estimated at $9.8 billion, down $500 million from the earlier forecast. The figures include the standard contingency fund of $3 billion.
