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Because of that transfer and the higher tax forecast, that projected deficit has suddenly shrunk to $510 million from $3.8 billion.
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Brighter-than-expected tax forecasts are the source of much of the city's optimism.
THANKS mainly to low unemployment, Germany keeps exceeding tax forecasts, with receipts that other European countries must envy.
Sidestepping the question about the huge gaps in oil tax forecasts, Swinney said Osborne's North Sea oil measures were overdue.
The company's broker Brewin Dolphin issued a buy note with a 150p target, saying: "We are upgrading our profit before tax forecasts by 16% to £8.1m in 2009 and by 11% to £9.0m in 2010".
Politicians have been trying to make sense of the first Welsh tax forecasts from the Office for Budget Responsibility.
Remove the need for Scottish ministers to absorb the first £125m of tax forecasting variation within their budget, providing more flexibility when responding to changes in spending levels, due to variations in tax income compared to forecasts.
The firm also plans to adapt the UK system's tax forecasting and tax return-filing capabilities and incorporate these into the U.S. version of FreeAgent in the near future.
"Given the technical, pricing and cost uncertainties, any long-term production and tax forecasts are inherently uncertain and should be treated as such given the broader commercial pressures on the oil and gas industry".
Sales taxes and income tax forecasts are also down as oil companies tighten their belts.
House broker Royal Bank of Scotland has revised its 2008 pre-tax forecast down from £40m to £32m.
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