The fall fiscal update is coming late next month.
Finance Minister Craig Pardy will deliver the province’s fiscal snapshot in the final week of the fall sitting of the House of Assembly.
He says government is looking at an 80/20 split on excess revenue generated by rising oil prices.
Oil Barrels (File Photo)
The province, which set the budgetary benchmark for oil prices at $79 US a barrel, benefits to the tune of $33-million for every dollar above that figure.
Oil prices have been consistently much higher than that since last spring’s budget, and right now, the surplus is in the $500 million range.
Pardy had previously indicated that government intends to spend 80 per cent of any oil windfall on debt repayment and the remaining 20 per cent on affordability measures.
He says government is looking at the week of November 23rd for the fiscal update, “that will give us the most up-to-date numbers.”
