clarinews@clarinet.com (Kelly/CFRBCKFM) (02/02/90)
(TORONTO) Ontario's budget deficit for the 89-90 fiscal year is now expected to be 571 Million dollars, almost right on target. Third quarter figures released by the ministry of treasury and economics show that revenues and spending are both running several hundred Million dollars higher than predicted. The higher spending is mainly due to advance payments for hospital operations. Revenues are up because the federal government underestimated the province's share of personal income taxes, and because tobacco taxes are bringing-in slightly more money than expected.