​Surplus will be lower due to lower oil price and tax cuts

​Surplus will be lower due to lower oil price and tax cuts

​Surplus will be lower due to lower oil price and tax cuts Ottawa has warned that the budget surplus will be lower than expected next year as oil revenue is lower and the cost of the income-splitting and other tax cuts. That said, it will be the first surplus since before the crisis with $4.9 billion (rather than the $6.4 predicted in the February budget) and the 2016 budget is now estimated at $9.8 billion, down $500 million from the earlier forecast. The figures include the standard contingency fund of $3 billion.