BUDGET 2012
12
taxes, and I am delighted to announce that there will be no increases in personal income taxes or any other taxes in the coming year. Government‟s fiscal plan forges alignment between today‟s choices and tomorrow‟s prosperity. This public commitment to the people of our province lays out the roadmap to which this government will stand accountable. This target will be the blueprint against which we will manage and be measured.
Fundamental to this fiscal plan is its 10-year time horizon, which enables the province to manage towards the target and calibrate the plan over time, avoiding the volatility and uncertainty that comes from short-term fiscal planning.
The Budget Outlook ($ millions)
2012-13f Revenue
2013-14f
2014-15f
7,210.5
7,188.6
7,743.9
6,638.2
6,767.0
6,834.2
830.7
854.5
865.4
Total Net Expenses
7,468.9
7,621.5
7,699.6
Surplus / (Deficit)
(258.4)
(432.9)
44.3
Net Expenses: Program Expenses
Debt Servicing Expenses
People and Prosperity – Responsible Investments for a Secure Future