Province Releases 201617 Capital Plan

first_img There is also a contingency fund of $43.1 million. The plan includes the ongoing design and construction of eight new schools, funds for hospitals and other medical facilities construction and renewal, and investments in highway improvements. The capital cost of the Halifax Convention Centre is $164.2 million. The federal government’s $51.4 million contribution will be paid to the developer upon substantial completion and the balance will be split equally between the province and the Halifax Regional Municipality. The municipality will pay their portion to the province over the 25-year term. The Department of Transportation and Infrastructure Renewal also released its 5-year Highway Improvement Plan, which is part of the capital plan. The capital plan is subject to approval in the 2016-17 budget. The 2016-17 Capital Plan is available online at www.novascotia.ca/finance. The 5-year Highway Improvement Plan can be found at http://novascotia.ca/tran/highways/hwyconstruction.asp. Government will invest $480.8 million in roads, schools, health care and public infrastructure through the 2016-17 Capital Plan, which includes funds set aside to participate in the anticipated federal government infrastructure program. The plan also contains a $164.2 million investment in the Halifax Convention Centre, Finance and Treasury Board Minister Randy Delorey announced today, Jan. 19. “Whether it’s renovations to schools, paving roads or investments in hospitals, these projects will create jobs and opportunities across the province,” said Mr. Delorey. “Communities and businesses will benefit from these projects, at a cost that aligns with the province’s fiscal plan.” The 2016-17 Capital Plan includes: $222.5 million in highways and structures $107.6 million in buildings and land $164.2 million in buildings (Halifax Convention Centre) $30.0 million in information technology projects $17.8 million in vehicles and equipment $59.8 million in capital grantslast_img read more

French soccer teams to skip weekend of matches next month in protest

French soccer teams to skip weekend of matches next month in protest against tax plan by Jerome Pugmire, The Associated Press Posted Oct 24, 2013 7:41 am MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email PARIS – Furious over a government plan to impose a tax on them, French soccer teams have unanimously agreed to scrap matches over one weekend at the end of November as a protest.France’s professional clubs held an extraordinary general meeting Thursday to decide the next steps in their campaign against the government’s plan to implement a temporary 75 per cent marginal tax on employers for paying salaries above a million euros a year.Under the decision announced Thursday by Jean-Pierre Louvel, president of the Union of Professional Football Clubs, the league round scheduled for Nov. 29-Dec. 2 will not be played.“It’s a historic moment for French football. The whole of football has taken a very important decision,” Louvel said. “We’re talking about the death of French football. That’s why we are fighting and we will continue to fight.”Representatives of the clubs will meet with French President Francois Hollande next week to further discuss a solution to the situation. Louvel did not rule out further action being taken after the weekend of cancelled games.The last time games were boycotted in the French league was in 1972, but that was at the initiative of the players, the clubs’ union said. The decision received the backing of league president Frederic Thiriez, who was also present at the meeting.The tax was a campaign promise from Hollande, who pledged to rein in what he said was excessive executive pay out of line with the struggling economy. The tax is only supposed to be in place for two years, starting retroactively this year, and the government expects it to net $580 million. It would cost clubs $60 million over that period.On the days when matches won’t be played, the stadiums will be open for fans to visit and some entertainment will be provided.The promise of a tax hike was the most memorable promise of Hollande’s campaign, and polls have shown it was widely popular, even if it generated heavy criticism from business leaders and sports organizations.The amount it will generate is tiny when compared to France’s $2.8 trillion economy, but the government says it is more a symbolic measure than one meant to plug budget holes.This tax is capped at five per cent of the club’s annual revenue. Defending French champion Paris Saint-Germain, with massive backing from Qatari investors, won’t be too bothered by the measure. Neither will Monaco, which benefits from tax exemption on players’ salaries.But it would hit about a dozen clubs and the likes of Saint-Etienne, Lyon and Marseille would see it as a major blow, particularly if they fail to qualify for the lucrative Champions League.“Most of the clubs don’t make money, they lose money, so how is it possible for the clubs to pay taxes when they don’t have money left?” Saint-Etienne president Bernard Caizzo told The Associated Press. “This is the big point, instead of players paying tax, they want the clubs to pay the tax.”Many clubs operate at a loss and Lyon has pumped in millions into its new stadium.“When a (company) is losing money you try and help, not try and give a big kick on the head,” Caizzo said.French clubs already end up selling many of their top players to other leagues that offer higher salaries — such as England’s Premier League — and the new measures could force them to sell even more of their stars to balance the books.“French football is the most (taxed) in Europe, when we get 100 euros, we pay 70 euros to the state. Not in England, not in Germany, not in Italy, not in Spain,” Caizzo said. “Many clubs won’t be able to afford this and could disappear.”___Associated Press writer Sarah DiLorenzo in Paris contributed to this report. read more