Latest News

• • March 23, 2023
  • Today, the Honourable Siobhan Coady, Deputy Premier and Minister of Finance, released Budget 2023: Your Health. Our Priority.
• • March 21, 2023
  • Speaker, this province has a strategic plan for financial improvement which ensures prudent fiscal governance and responsible debt management. The objective is to balance budgets, transform and modernize government, and manage and lower debt.
• • March 17, 2023
  • The Government of Newfoundland and Labrador is proceeding with Phase II of the review regarding the province’s current offshore oil and gas interests. Specific focus will be on its 4.9 per cent equity position in Hebron, 8.7 per cent equity position in the Hibernia Southern Extension, and five per cent equity position in White Rose Extension project.
• • March 13, 2023
  • The following statement was given today in the House of Assembly by the Honourable Siobhan Coady, Deputy Premier and Minister of Finance:
• • March 13, 2023
  • Today, the Government of Newfoundland and Labrador is announcing an extension of the tax reduction on gasoline and diesel of 7 cents per litre for the next year, until March 31, 2024. This maintains a lower price at the pump by 8.05 cents per litre (includes HST). This reduction is one of many initiatives delivered by the Provincial Government to support residents, families and businesses with the currently high cost of living.
• • March 6, 2023
  • The Honourable Dr. Andrew Furey, Premier of Newfoundland and Labrador, was at London Stock Exchange this morning to ring the opening bell to officially launch the province’s European borrowing program. Premier Furey was joined at this ceremony by the Honourable Siobhan Coady, Deputy Premier and Minister of Finance. By establishing the European borrowing program and listing with London Stock Exchange, Newfoundland and Labrador has the option to issue bonds in the European capital market, in addition to its existing domestic Canadian market, to meet its borrowing requirements.
• • January 24, 2023
  • In advance of Budget 2023, residents are invited to take part in a pre-budget questionnaire. The deadline to provide feedback through engageNL is February 10, 2023. This year’s questionnaire is focused on assessing the priorities of residents, as well as gauging their support for various measures to reduce the deficit and provincial debt. It includes an interactive tool to illustrate government’s fiscal situation and the challenges of balancing the budget.
• • December 9, 2022
  • The Honourable Siobhan Coady, Deputy Premier and Minister of Finance, is pleased to advise that 96 per cent of the initial 392,000 cost of living relief cheques have now been mailed to residents of Newfoundland and Labrador; and is thanking public service employees for their hard work in ensuring people received their cheques before Christmas.
• • November 22, 2022
  • The Government of Newfoundland and Labrador is expressing its disappointment with the Government of Canada’s decision to impose its federal carbon tax backstop on the province as of July 1, 2023. The Federal Government’s decision does not reflect the pressures that residents and businesses are facing with the rising cost of living, or Newfoundland and Labrador’s meaningful actions to address climate change and being a leader in transitioning to cleaner energy.
• • November 10, 2022
  • As announced on October 5, the Provincial Government will issue a one-time cost of living relief cheque of up to $500 to residents of the province who have reached the age of 18 years old as of December 31, 2022 and who filed a 2021 tax return with an adjusted income of $125,000 or less. Please ensure your 2021 income tax return is filed by December 31, 2022. For those with a modest income and a simple tax situation, Canada Revenue Agency’s free tax clinics can help individuals file their taxes before the deadline. Visit Canada.ca/taxes-help or call 1-855-516-4405 for more information.
• • October 19, 2022
  • The Honourable Siobhan Coady, Deputy Premier and Minister of Finance, today announced that the Government of Newfoundland and Labrador is reducing debt and borrowing and making the first-ever contribution to the Future Fund as a result of a strong fiscal and economic outlook for 2022-2023.
• • October 11, 2022
  • Today, the Future Fund Act will receive second reading in the House of Assembly. If passed, this Act will require government to invest revenue from one-time sources and non-renewable resources to strengthen finances, pay down expensive debt and lower the cost of borrowing. These actions are important for all Newfoundlanders and Labradorians, as they will benefit us now and into the future.
• • October 5, 2022
  • Today, the Honourable Andrew Furey, Premier of Newfoundland and Labrador, and the Honourable Siobhan Coady, Deputy Premier and Minister of Finance, announced an additional measure to help residents with the high cost of living. A one-time cheque of up to $500 will be provided to residents of the province who have reached the age of 18 years old as of December 31, 2022 and who filed a 2021 tax return with an adjusted income of $125,000 or less.
• • September 12, 2022
  • Today, the Honourable Siobhan Coady, Deputy Premier and Minister of Finance, launched the home heating supplement program. This initiative, with an estimated cost of $31 million, was announced on May 26, 2022 as part of government’s overall plan to help residents with the cost of living, and aligns with the direction of the Health Accord to improve economic security in this province.
• • August 18, 2022
  • The Honourable Siobhan Coady, Minister of Finance and President of Treasury Board, today announced that Moody’s, S&P Global and DBRS Morningstar have confirmed a stable outlook for the provincial government’s credit rating.

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