News Release Archive
TRANSPORTATION/PUBLIC WORKS--DISPOSAL OF SURPLUS CROWN ASSETS ----------------------------------------------------------------- The sale of surplus Crown assets has allowed the government to reduce the province's debt by a half-million dollars. "We're pleased to do our part in the effort to reduce the debt by making this payment," said Minister of Transportation and Public Works Don Downe. "With the budget balanced, even seemingly small payments like this now go further in reducing the province's debt. That's $50,000 we save in interest payments on that money from now on." The annual auction of surplus items such as equipment and furniture netted about $309,000, while the sale of surplus land and buildings generated approximately $140,000. Almost $5,000 was made from the public tendering of other items not considered real property. In total, about $530,000 was made from the disposal of Crown assets. In the past, these funds went into the government's general revenue account. But through changes made last year to the Financial Measures Act, the money generated from the disposal of surplus Crown assets must now be used to pay Nova Scotia's debt. -30- Contact: Public Affairs and Communications 902-424-8687 trp Nov. 28, 1996 - 5:10 p.m.