Newfoundland budget

I'm watching the budget speech in Newfoundland. The gist: No new taxes except a increase of the tobacco tax. The finance minister also says their tax rates are too high, and they are going to (gulp) undertake a review of their tax system.

Update: They are also applying money from the Atlantic Accord to public pension liabilities and bringing in balanced budget legislation. Nice work. The best news is they are heading for a surplus. Not sure when the last time they had a surplus, but it surely has been a long time.