Last week, the provincial government announced a projected $348.5 million deficit at the first quarter financial update. However, a closer look at the numbers reveals it could end up being more than double that.

The Finance Minister, Jim Reiter, explained the budget had moved to that deficit from the $12 million surplus announced in March for a number of reasons, including pension changes and a reduction in revenue.

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But, under the revenue column, the province is still counting $466.9 million from the Output-Based Performance Standards (OBPS) – its own industrial carbon tax, man

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