Nfld. & Labrador

By the numbers: We break down the key figures in Tuesday's budget

A drop in the net debt, a hike in overall spending ... and other numerals you need to know.

A drop in the net debt, a hike in overall spending

The governing Liberals brought down their fourth budget on Tuesday, with a surprise surplus thanks to the refreshed Atlantic Accord. (Mark Cumby/CBC)

Tuesday's budget includes a surprise surplus — thank the rules, if not magic, of accounting for that one — as well as a cascade of data about the relative health of the economy and government's plans to tax and spend your money.

From charts, statements and government estimates, we pulled out some of the key figures in the annual budget.

0: Number of tax or fee increases in Tuesday's budget, which precedes an election call.

$1.924 billion: Value of surplus the government is projecting for 2019-20, although it is based "largely as a result of the guaranteed revenue stream secured from the Atlantic Accord agreement."

$2.501 billion: Dollar value, in accounting terms, of Atlantic Accord revenue from the Government of Canada.

$8.425 billion: Value of overall government spending.

$282 million: Overall increase in government spending from the last fiscal year. Last year, the Liberals promised to ratchet down annual spending by $450 million a year by 2022, from 2018 levels. In last year's budget, Osborne expected spending this year to drop by $114 million.

$522 million: Deficit that the government says it racked up in 2018-19, down from a mid-year projection of $547 million.

$13.77 billion: Net debt projection. For the last fiscal year, net debt was pegged at $15.4 billion.

$65 US: Average price that the province is forecasting Brent crude to trade at during the current year. (Last year, the forecast price was $63 US.)

$1.099 billion: How much the province expects to earn from offshore oil royalties.

$6.9 million: Amount to be spent this year on construction for the long-promised Corner Brook hospital.

103,000: Amount of the reduction, in square feet, of space that government has stopped leasing over the last three years.

4.1 per cent: Increase in real GDP that the province is forecasting for the year to come.

$1 million: Value of a pilot program to offer rebates on heat pumps, aimed at homeowners who can each apply for a $1,000 grant.

$1 million: Hike in spending for ArtsNL's grants program. The funding comes on the heels of a campaign of artists aiming for an increase in arts grants.

$3.188 billion: Spending for the coming year on the health care sector. At almost 38 per cent of overall spending, health is — by far — the single biggest cost sector.

13.1 per cent: Unemployment rate expected for this fiscal year. The government expects that rate to hold steady; in 2022, it is projecting a 13.4 per cent rate.

$11.1 million: Figure earmarked for public inquiries. The Muskrat Falls inquiry, headed by Justice Richard LeBlanc, is expected to conclude by the end of the year. About $1.5 million is marked for a long-promised inquiry on search and rescue.

And …

$6.3 million: Budget for the upcoming election.

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