The logic is simple—save resource revenue during good times to cover the shortfall during bad times.
newfoundland & labrador budget
April 8, 2022
8:35AM
According to the provincial budget, debt will rise from $16.5 billion last year to $17.1 billion this year.
March 30, 2022
3:50PM
Despite the most difficult fiscal position in Canada, the province increased program spending in nine of the last 10 years.
September 8, 2021
9:43AM
When the province's resource revenues declined by roughly 22 per cent, the government did not commensurately reduce program spending.
July 6, 2021
8:49AM
Newfoundland and Labrador's budget deficit stands at $825 million.
June 2, 2021
10:05AM
The reduced deficit relies largely on oil and gas royalties and transfers from Ottawa.
May 28, 2021
2:30AM
Government salaries and benefits comprise approximately 42 per cent of the province's spending.
May 27, 2021
10:06AM
At $2,055 per person, the province's government debt burden is the highest in Canada.
