The provincial government is still mulling over what relief measures can be implemented this fall using excess oil money.
Finance Minister Craig Pardy hinted earlier this year that new cost-of-living measures would be introduced.
He says the province is expecting over $500-million in oil revenues, and they are currently doing an analysis to determine how the extra money from that can be used.
He says they are looking at electricity and home heating, and more targeted poverty-reduction measures. “It very well may be a smorgasbord,” says Pardy.
(VOCM News)
The status of the promised 15 per cent electricity rebate is up in the air until the Churchill Falls deal is signed.
Pardy doesn’t rule out using oil revenues to provide that rebate, if the deal falls through, at least for one year.
He says of the $500-million in oil revenues, they can use 25 per cent – or $100-million – for relief. He says the total yearly cost of the electricity rebate is $92-million, so it is “conceivable” that the money could be used for that purpose if needed.
