Pre-budget Consultations

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Presentation transcript:

Pre-budget Consultations February 2017

Budget 2017 Province faces serious fiscal challenges No tax increases – focus on creating efficiencies and improving service delivery Continued commitment to achieve surplus budget by 2022-23 Look inside government for savings Better outcomes of programs and services September 17, 2018

Financial Overview 2016-17 Variance Budget Fall Update Revenue 6,367.9 6,567.7 199.8 Net Income of Government Business Enterprises 408.4 425.5 17.1 Total Revenue 6,776.3 6,993.2 216.9 Gross Expenses: Program Expenses 7,499.0 7,387.9 (111.1) Debt Servicing Expenses 982.3 1,113.9 131.6 Total Expenses 8,481.3 8,501.8 20.5 Risk Adjustment (125.0) (75.0) 50.0 Adjusted Deficit (1,830.0) (1,583.6) 246.4 September 17, 2018

Where does the Money Go? September 17, 2018

How do we Spend our Operating Dollars? HEADLINE September 17, 2018September 17, 2018

How do we Spend our Salary Dollars (includes salaries and employee benefits) February 1, 2017

Average for Other Provinces* NL Expenditures put into Perspective 2016/17 Fiscal Indicators NL Average for Other Provinces* Annual Provincial Revenue Per Person $12,855 $11,101 Total Annual Provincial Expenditure Per Person $16,089 $11,528 Annual Provincial Expense Per Person (excluding interest costs) $14,226 $10,800 Annual Provincial Interest Cost Per Person $1,863 $728 Annual Provincial Deficit Per Person ($3,235) ($408) * Excluding NL September 17, 2018

Oil Royalties – It’s Just Not Enough September 17, 2018

Identifying Budget Priorities Your feedback is requested to identify priorities under these areas: A more efficient public service A stronger economic foundation Better services Better outcomes September 17, 2018