New Forecast to Show Deficit Reduction

Finance Minister Don Downe will release a new financial year-end forecast later this week. Mr. Downe said the update will show a significant reduction in an earlier deficit forecast.

"Our government is taking a prudent long-term view toward the province's financial affairs," said the minister. "Some suggested we needed to take dramatic and drastic action when we faced some difficulties in 1998. We rejected the proposals that would have required us to slash and burn.

"Our decision to wait for more detailed information is proving to be the correct one."