The Government of Newfoundland and Labrador has announced more than a half billion dollars in targeted short- and long-term measures since March 2022 to help residents with the cost of living.
Short-term:
- Lowering the price at the pump by 8.05 cents per litre (includes HST). This is possible through a reduction in the provincial tax on gasoline and diesel by 7 cents per litre.
- Home heating supplement program which provides up to $500 to eligible residents who use furnace or stove oil to heat their homes.
- Elimination of the 15 per cent retail sales tax on home insurance.
- 50 per cent reduction in registration fees for passenger vehicles, light duty trucks and taxis.
- During 2022-23, provided a one-time cost of living relief up to $500.
Transition:
- Funding for electric vehicle rebates and charging infrastructure.
- Funding to help homes transition from oil to electricity.
- Three increases to the minimum wage based on the recommendation of the Minimum Wage Review Committee, and a one-year transitional support program for smaller employers.
- On October 1, 2022 the minimum wage increased by 50 cents, bringing it to $13.70 per hour;
- On April 1, 2023, the minimum wage increased by 80 cents bringing the rate to $14.50 per hour; and,
- On October 1, 2023, the minimum wage increased by 50 cents, bringing it to $15.00 per hour.
Long-term:
- Free driver medicals for people 75 years of age and older.
- 15% increase to the income supplement.
- 15% increase to the seniors’ benefit.
- Lower child care costs from an average of $35 a day in 2020, to $25 a day in 2021, to $10 a day in 2023.
- Doubled the physical activity tax credit in Budget 2023.
- Expansion of the bus pass program to seniors over age 65 who are receiving the guaranteed income supplement and youth receiving services from the youth services program.
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Home Heating Supplement Program Deadline is November 30, 2023 September 27, 2023
Employers Reminded of Minimum Wage Increase on October 1, 2023 September 26, 2023
Provincial Government Covering the Cost of Drivers Medicals for Seniors August 28, 2023
Provincial and Federal Governments Launch New Oil to Electric Incentive Program June 29, 2023
Premier Furey Announces Plans to Issue a Call for Proposals for $70 Million Affordable Housing Program March 28, 2023
Budget 2023 Prioritizes the Health of Newfoundland and Labrador March 23, 2023
Provincial and Federal Governments Work Together to Expand Oil to Electric Rebate for Residents March 13, 2023
Tax Reduction on Gasoline and Diesel Extended; Budget Day Set for March 23 March 13, 2023
Provincial Government Provides Additional One-time Cost of Living Relief October 5, 2022
Government Introduces Additional Measures to Help Residents with the Cost of Living May 26, 2022
Provincial Government Supporting Electric Vehicle Project through Budget 2022 April 22, 2022
Budget 2022 Helps with the Cost of Living; Addresses Government’s Financial Challenges April 7, 2022
Government Announces Five-point Plan to Help Newfoundlanders and Labradorians with the High Cost of Living March 15, 2022