Latest news with #surplus
Zawya
11 hours ago
- Business
- Zawya
South Africa posts trade surplus of $1.22bln rand in June
JOHANNESBURG - South Africa recorded a trade surplus of 22.04 billion rand ($1.22 billion) in June, revenue service figures showed on Thursday. ($1 = 18.0763 rand)
BBC News
18 hours ago
- Business
- BBC News
Call to return £21.3m of 'surplus' tax revenue to Manx residents
A lobby group has called for £21.3m of tax revenue that was above the estimated take by Isle of Man government in the last financial year to be returned to accounts for 2024-25 revealed income tax revenue had outperformed expectations due to higher interest rates improving returns for savers and increases in Josem of the Manx TaxPayers' Alliance said the authorities had "already funded everything it planned to" so the "surplus" of £473 per taxpayer "belongs in their pockets".But Treasury Minister Alex Allinson said the money would instead go "back into reserves to pay the bills". In a statement the alliance suggested that the money could provide "significant relief during current cost-of-living pressures" if had the potential to help "with energy bills, grocery costs, or savings" and would not require any cuts to planned government services, it Josem said the money "wasn't planned for" and "isn't needed for any specific purpose"."When government takes more than it needs, it should give it back," he added. 'Long-term plan' Responding to the call, Allinson said it would be "easy for a treasury minister to have giveaways" but he was "not minded to do that".He argued that the department had already "put money in working people's pockets" by increasing child benefit thresholds and personal allowances, and changing national insurance thresholds in the 2025-26 minister confirmed the department planned to "use this extra to reduce the amount were going to have to take out of reserves" in on the data, he said the government had been "spending more money on services than it had been bringing in over the last decade" so the money would help to "balance that out".Allinson said the Treasury was also looking to control public sending by working with departments to bring them in on budget, with the only overspend in the previous year being at the Department of Health and Social Care through Manx aims to reduce the headcount in public services, the moves could be described as "responsible long-term economic planning rather than short term fixes", he said. He said while it was "welcome news" that the Isle of Man economy was in a "strong and resilient" state, "you cannot take for that for granted". "You have to have a long-term plan to balance the budget and to control government expenditure," he added. Read more stories from the Isle of Man on the BBC, watch BBC North West Tonight on BBC iPlayer and follow BBC Isle of Man on Facebook and X.
CBC
a day ago
- Business
- CBC
CBRM surplus spending includes big-ticket items, infrastructure and anniversary parties
Cape Breton Regional Municipality ended its last fiscal year with a big surplus and council has decided to spend about two-thirds of it on some big-ticket items, infrastructure repairs and multiple celebrations of CBRM's 30th anniversary. During a special meeting Tuesday, council was told the surplus as of March 31 was $4.1 million. Councillors agreed to put $1.4 million into reserve accounts for the future and made plans to spend the rest on a wide range of items. Mayor Cecil Clarke said putting $500,000 into the Cape Breton Exhibition building, another $500,000 into roads and sidewalks, $100,000 into each of three community rinks in Sydney Mines, Whitney Pier and Dominion and $100,000 for the Louisbourg Playhouse, will all help ease next year's budget. "It'll help take the pressure off, because it's going to help with some of the backlog of things that we would have, as we say, with some buildings and some of the needed work," he said. Council also used a portion of the surplus to fulfil a promise to Cape Breton University after its request earlier this year for a $400,000 contribution to CBU's capital building campaign. CBRM is also allocating $332,000 for at least 10 community non-profits and $150,000 for a new command vehicle for Cape Breton Search and Rescue. This year is the 30th anniversary since CBRM was created by amalgamating the former city of Sydney with several former towns and the County of Cape Breton. Council has set aside $500,000 for celebrations that will include local events in each of the 12 districts, three "signature community events" in the North, Central and East divisions, $50,000 to recognize citizens and local organizations and $240,000 for a big New Year's Eve bash. The 25th anniversary could not be celebrated publicly due to the pandemic, which Deputy Mayor Eldon MacDonald called "unfortunate." "But for those who might not have been around, the previous one was probably one of the most remarkable events that I've gotten feedback from the community." CBRM hosted a New Year's Eve event in 2015 that included a ferris wheel, toboggan slide and entertainment on the downtown waterfront. "That 20th celebration was talked about for a long time," MacDonald said. The surplus was a result of $3.1 million in federal-provincial disaster assistance following last winter's massive snowfall, plus extra revenues from last year's World Women's Curling event and unexpected wastewater fees. Not all councillors were in favour of the full list of surplus spending, however. Councillors Steve Parsons and Kim Sheppard-Campbell voted against the plan, saying they were not opposed to many of the items, but they objected to them all being lumped into one motion for one vote. "I may not support all of the expenditures. There may be two or three that I have some questions about and to be honest with you, maybe two or three that I won't support," Parsons said. "But if I have to vote in a block, the perception for my residents will be that I voted in favour of everything, when I'm not." Both he and Sheppard-Campbell said they had concerns about giving $400,000 to Cape Breton University for its buildings. Parsons said CBRM recently sent a letter to the province saying it was cash-strapped and couldn't afford to take down all of the derelict houses and commercial buildings in the area. He said the contribution to CBU could have been spread over several years, freeing up some extra money for the backlog of derelict properties. Sheppard-Campbell said she would rather see CBU spend the money on bursaries. However, Coun. Gordon MacDonald said he had no problem with the contribution to CBU. He said the university's huge influx of students had sparked economic development in CBRM and helping the university is "money well spent."
Yahoo
23-07-2025
- Business
- Yahoo
City of Calgary nets $221M surplus so far this year according to financial update
It has been a good year for Calgary's finances. In an update on Tuesday, the executive committee heard that the city has a $221M surplus in just the first six months of this year, but there's not a lot of celebrating going on. Acton Clarkin spoke with some of the city's leaders on what they think of the big haul.
CBC
23-07-2025
- Business
- CBC
City of Calgary nets $221M surplus so far this year according to financial update
It has been a good year for Calgary's finances. In an update on Tuesday, the executive committee heard that the city has a $221M surplus in just the first six months of this year, but there's not a lot of celebrating going on. Acton Clarkin spoke with some of the city's leaders on what they think of the big haul.
