Latest news with #overspending
CTV News
2 days ago
- Business
- CTV News
Government of Sask., NDP trade barbs on topic of spending
The Saskatchewan Legislative Building can be seen in this file photo. (David Prisciak/CTV News) The Saskatchewan NDP is taking aim at the government on the topic of overspending – claiming that since Premier Scott Moe took office in 2018, provincial spending has increased by 47 per cent. NDP MLA Trent Wotherspoon spoke to reporters at the legislative building on Monday. He said the spending increases has led to a ballooning debt costing taxpayers upwards of $1 billion per year. 'Whether it's building out a revenue agency, a new bureaucracy, a Marshals Service, contract nurses, massive overruns on the bypass – these are just a few examples of projects that have taken massive dollars away from the frontlines,' he argued. In its response, the Government of Saskatchewan said it is continuing to make investments in areas that are important to the people of the province – listing affordability, health care and education as priorities. It also accused the NDP Opposition of flip flopping in its stances on budget issues. 'After every budget over the past several years, the NDP has falsely claimed the budget contains 'cuts' to government programs and spending,' the statement read. 'Now they say the government is overspending.'
Yahoo
11-08-2025
- Business
- Yahoo
Major bank reveals common habit costing Aussies $600 each year: 'Shock'
Australians are wasting hundreds of dollars each year on subscriptions they either don't use or have forgotten about. The average Aussie pays for more than five subscriptions and is spending significantly more than they realise due to this "subscription shock", new data from Westpac has found. Three in 10 Aussies have admitted they are losing up to $600 a year on duplicate services and apps they no longer use. The average monthly spend on subscriptions across the board has increased this year, with Westpac customer data revealing spend was up 11 per cent to $141 a year. The most common reason for overspending was forgetting to cancel a trial before auto-renewal (38 per cent), followed by paying for subscriptions they had forgotten about (32 per cent), and difficulty cancelling a subscription (31 per cent). RELATED Gen Z with $100,000 in savings reveals 'common' money traps Aussies waste cash on Text message 'proves' common dinner bill foul play as woman left '$500 out-of-pocket Mechanic reveals 'expensive' cars Aussies should avoid buying Westpac acting chief executive of consumer Carolyn McCann said Aussies were spending nearly 20 per cent more on subscriptions than they realised. "When we compared total estimated spend against customer transaction data we could see customers are spending about $14 more each month than they think they are on subscriptions,' McCann said. 'While subscription costs might not seem like much in isolation, they can quickly add up – especially if these are apps or services you no longer use. This is hundreds or even thousands in potential savings that could be redirected elsewhere." Video streaming services like Netflix, Disney+ and Stan were the most popular subscription services, followed by music subscriptions like Spotify and Apple Music, and fitness and wellness apps. On average, Aussies are spending $21.63 a month on video platforms, $55.50 on gaming, and $16.98 on music services. Tips to save Finder tech and utilities expert and Yahoo Finance contributor Mariam Gabaji recommended writing a list of how much you are spending each month across your subscriptions and taking stock of what you need and what could be axed. "If you're still paying for premium subscriptions, consider if they're necessary. Moving to a standard tier could save you money," she said. "Or, better yet, share your account with other households and split the cost of the subscription plus sharing fee." Another option could be to cycle through your streaming services, so you're only signed up to one service at a time based on what you want to watch. "The goal is to only pay for the streaming services you're actively watching right now," she said. $2,200 cost of convenience Subscriptions aren't the only convenience that Aussies are willing to fork out for, despite current cost-of-living pressures. Westpac found the average bank customer spent $184.85 on takeaway in June, or $2,200 annually, making it the top recurring convenience expense. That works out to $62 million each month across Westpac's customer base. 'Our data suggests customers are willing to spend on what makes life easier, with a significant uplift in spend on food services. But there's also growing awareness around value,' McCann in retrieving data Sign in to access your portfolio Error in retrieving data
BBC News
01-08-2025
- Business
- BBC News
Report has major concerns over Jersey States finances
A committee has raised "major concerns" about States finances, including an overspend of £30.7m by the health department in Public Accounts Committee (PAC) has released its report on the States Annual Reports and Accounts 2024 (ARA), outlining concerns over transparency in public spending, fiscal sustainability and departmental overspending in chair, Deputy Inna Gardiner, said the the total external borrowings for the States Group at 31 December 2024 was £1.14b, compared to 2013 when it owed added: "It is crucial that robust financial controls are put in place to ensure spending across government, but particularly in health, is controlled." In its latest report, PAC looked at how ministers were using taxpayers money, with Gardiner stating there was "rising expenditure, falling reserves, and weakening financial discipline".She said public spending exceeded public income, with the difference being covered through in-year budget transfers, use of reserves, and delayed report found the States of Jersey group held no external borrowings in 2013, but the levels of external borrowings had since risen."The total external borrowings for the States Group at 31 December 2024 was £1.14b, representing a material long-term liability that places added pressure on future public finances," the report said."Our findings raise serious concerns regarding whether the government can maintain our current spending, taxation, and borrowing habits and policies over the long term without incurring unsustainable debt or/and reducing essential services."The need for strategic planning and fiscal discipline has never been greater." The committee made 20 recommendations including the development of a more accessible and interactive version of accounts to aid public said the government should publish, in time for the debate of the 2026 budget, a 10 year revenue and expenditure outlook focusing on potential changes to the island's demographics, as well as flagging forecast overspends to the assembly when they are above 2%.
Zawya
11-06-2025
- Business
- Zawya
Correctional Services Committee Raises Concern About Department's Projected R1.4 Billion Over-Expenditure
The Portfolio Committee on Correctional Services has raised its concerns about the Department of Correctional Services' (DCS) over-expenditure, which is projected to reach R1.4 billion. Yesterday, the committee heard that the department's year-to-date expenditure for the period ending 31 December 2024 is R21,6 billion (78%), while projected annual expenditure is R29,2 billion against the adjusted budget of R27,8 billion, which will result in projected overspending of R1,4 billion. The committee was briefed by the DCS on its second and third quarter performance report for the 2024/25 financial year. The projected overspending is due to a cost-of-living adjustment, effected in April 2024. In addition, the capital budget is underfunded by R222 million, constraining infrastructure upgrades and maintenance. Food costs have also surged, driven not only by inflation and a growing inmate population, but also by the rising number of foreign nationals housed in correctional facilities. The current budget is overspent due to rising municipal tariffs for electricity, water and sanitation, which have escalated above the consumer price index, creating further strain on the already stretched Goods and Services budget. The DCS also indicated that it faces fixed, inflexible costs for public–private partnership facilities, limiting room for reprioritisation. Additionally, the devolution of maintenance responsibilities from the Department of Public Works and Infrastructure to DCS without a corresponding increase in the accommodation charges allocation has left a funding gap of R154 million. The information and technology branch's budget in the DCS is also severely constrained, hampering efforts to modernise digital infrastructure and cybersecurity, the committee was informed. Committee Chairperson Ms Kgomotso Anthea Ramolobeng said: 'Of course, we raised concerns about this trend. It is worrying although the factors for such overspending have been placed before us. We urged the department to tighten its belt, like using for example offender labour wherever possible in order to cut cost and that will result in a transfer of skills.' The committee heard that the DCS has implemented measures to curb projected over-expenditure of its budget vote by appointing a committee that is responsible for monitoring expenditure on a weekly basis. 'We noted these interventions and hope that the corrective measures will bear fruit. We will need a report detailing progress regarding those measures,' emphasised Ms Ramolobeng. The DCS also reported that it has had 29 unnatural deaths in its facilities out of an inmate population of 160 353. Ms Ramolobeng said the committee has on numerous occasions raised concerns about inconsistencies in reporting between the DCS and Judicial Inspectorate for Correctional Services on the number of unnatural deaths. 'Both parties need to sit down and come up with a way forward of how to address this reporting deficit. We want the DCS to submit a report to us following that sit-down meeting,' she said. Distributed by APO Group on behalf of Republic of South Africa: The Parliament.
BBC News
11-06-2025
- Business
- BBC News
Peterborough City Council 'not out of the woods' after overspend
A council that overspent by £5m last year said it would be "crucial" to avoid a repeat occurrence this time City Council said it exceeded its £220m net revenue budget in the 2024 to 2025 financial year due to challenges such as high interest rates and delays in selling off a report being presented to councillors on 17 June, the authority said the coming financial year was going to be "difficult and challenging".It said: "Despite the improvements made, the council isn't out of the woods yet." The authority is currently in the process of selling assets to pay off debts, having already sold a football stadium, shopping centre and farmland in recent expected to bring in £23.7m from asset sales last year but only received £10.3m after a delay involving the sale of a "large asset". The report said the council had been working to reduce spending last year by reviewing how it used agency staff and only spending where highlighted "significant pressures" in some areas, including in children's social care, where a £3.2m overspend was put down to a significant rise in the number and cost of said there had been a rise in the number of homeless people needing temporary accommodation, costing £1.7m more than expected, with 117 people in B&Bs in December services contributed to a £1.7m overspend and high interest rates, coupled with delays in selling off assets, added £1.9m to borrowing costs. 'Financial shocks' These areas were partially offset by other areas where the council underspent or made savings, but still left a £5m council warned that its reserves were lower than required as a result, meaning it would be less able to respond to "financial shocks or an emergency".Reserves have dropped from £70m at the end of 2023 to £20.6m at the end of council said it had made improvements in a number of areas including in-sourcing services and reviewing or closing council-owned have been asked to note the council's financial position at the meeting on 17 June. Follow Peterborough news on BBC Sounds, Facebook, Instagram and X.
