This section provides access to various types of documents which describe the work of the Department of Finance; Government’s management of the public purse; provincial tax credits, programs and incentives; public service pension plans; aspects of the provincial economy; and population statistics and trends.
- Economic Growth Report – McKinsey and Company
- Annual Reports
- Plans
- Provincial Budget
- Oil Prices – Budget Assumptions vs. Daily Brent Spot Prices
- Tax Information Bulletins
- Economics and Statistics
Annual Reports
Pursuant to the Transparency and Accountability Act, annual reports detailing the results achieved by the Department of Finance and those public bodies who report to the Minister of Finance are made available to the public each year. The following links provide access to these documents:
Note: all links below are PDFs and will open in a new window.
Annual Reports of the Department of Finance:
- 2022-23 Annual Report (2.9 MB)
- 2021-22 Annual Report (2.69 MB)
- 2020-21 Annual Report (1.58 MB)
- 2019-20 Annual Report (2.4 MB)
- 2018-19 Annual Report (2.4 MB)
- 2017-18 Annual Report (3 MB)
- 2016-17 Annual Report (921 KB)
- 2015-16 Annual Report (1.8 MB)
Annual Report of Public Bodies Reporting to the Minister of Finance
- Newfoundland and Labrador Government Sinking Fund
- 2022-23 Annual Report (737 KB)
- 2021-22 Annual Report (524 KB)
- 2020-21 Annual Report (580 KB)
- 2019-20 Annual Report (571 KB)
- 2018-19 Annual Report (543 KB)
- 2017-18 Annual Report (363 KB)
- 2016-17 Annual Report (360 KB)
- 2015-16 Annual Report (496 KB)
- Newfoundland and Labrador Industrial Development Corporation
- 2022-23 Annual Report (855 KB)
- 2021-22 Annual Report (470 KB)
- 2020-21 Annual Report (694 KB)
- 2019-20 Annual Report (586 KB)
- 2018-19 Annual Report (512 KB)
- 2017-18 Annual Report (343 KB)
- 2016-17 Annual Report (343 KB)
- 2015-16 Annual Report (511 KB)
- Newfoundland and Labrador Liquor Corporation
The Newfoundland and Labrador Liquor Corporation (NLC) is an independent crown agency of Government governed by a Board of Directors appointed by the Lieutenant-Governor in Council. It is responsible for the importation, sale and distribution of beverage alcohol in Newfoundland and Labrador, as well as overseeing the sale and distribution of non-medical cannabis. Please visit their website to access their Annual Reports. - Newfoundland and Labrador Municipal Financing Corporation
- 2022-23 Annual Report (720 KB)
- 2021-22 Annual Report (722 KB)
- 2020-21 Annual Report (0.5 MB)
- 2019-20 Annual Report (1.2 MB)
- 2018-19 Annual Report (612 KB)
- 2017-18 Annual Report (461 KB)
- 2016-17 Annual Report (479 KB)
- 2015-16 Annual Report (6.3 MB)
- Newfoundland Government Fund Limited
Plans
Pursuant to the Transparency and Accountability Act, all government entities reporting to the Minister of Finance must provide multi-year performance-based plans. The following links provide access to these documents:
Department of Finance:
- 2023-26 Strategic Plan (4 MB)
- 2020-23 Strategic Plan (3.5 MB)
- 2017-20 Strategic Plan (201 KB)
- 2014-17 Strategic Plan (1.4 MB)
- 2011-14 Strategic Plan (2 MB)
Public Bodies Reporting to the Minister of Finance
- Newfoundland and Labrador Government Sinking Fund
- 2023-26 Activity Plan (182 KB)
- 2020-23 Activity Plan (394 KB)
- 2017-20 Activity Plan (42 KB)
- 2014-17 Activity Plan (177 KB)
- 2011-14 Activity Plan (3 MB)
- Newfoundland and Labrador Industrial Development Corporation
- Newfoundland and Labrador Liquor Corporation
The Newfoundland and Labrador Liquor Corporation (NLC) is an independent crown agency of Government responsible for managing and overseeing the manufacture, sale and distribution of beverage alcohol. The NLC is overseen by a Board of Directors consisting of a Chair and six other Board members, one of whom is the President. Board members are appointed by the Minister of Finance, normally for a term of three years. The NLC employs approximately 500 employees and operates 24 corporate Liquor Stores located in most major centers throughout the Province. Please view their Business Plan (4.4 MB). - Newfoundland and Labrador Municipal Financing Corporation
- Newfoundland and Labrador Future Fund
- Newfoundland Government Fund Limited
Provincial Budget
The Department of Finance is responsible for coordinating the annual budgetary process for the Provincial Government. This includes the development and publication of supportive documentation such as the Budget Speech, Budget Highlights, the Estimates and the Economy. The following links provide access to information related to the annual budgetary process:
A key focal point of the annual budgetary process is pre-budget consultations. This process is designed to provide key stakeholders, individuals and various interest groups an opportunity to identify budget priorities for consideration in the provincial budget. The following links provide access to information related to the annual pre-budget consultation process:
- 2021 Pre-Budget Consultations
- 2020 Pre-Budget Consultations
- 2019 Pre-Budget Consultations
- 2018 Pre-Budget Consultations
- Past Pre-Budget Consultations
Additionally, each year the Department of Finance produces a mid-year report which provides a revised economic forecast for the previous calendar year and a revised budgetary forecast for Government’s current fiscal year. The following links provide access to this information:
- 2021 Economic and Fiscal Update
- 2019 Economic and Fiscal Update
- 2018 Economic and Fiscal Update
- 2017 Economic and Fiscal Update
- Past Economic and Fiscal Updates
Oil Prices – Budget Assumptions vs. Daily Brent Spot Prices
Budget assumptions versus daily Brent spot prices and year-to-date (YTD) averages
Fiscal Year
Note: The daily Brent spot prices are the daily Brent closing spot prices from the U.S. Energy Information Administration
Tax Information Bulletins
The following information provides details with respect to the application of various tax programs administered by the Department of Finance:
- Sales Tax
- Gasoline and Carbon Tax
- Gasoline Tax Rates and Inventory Return Bulletin No. RAA-GAS-003 (June 2, 2022)
- Carbon Product Tax Rates and Inventory Return Bulletin No. RAA-CARBON-004 (May 1, 2022) (340 KB)
- Carbon Product Tax Rates and Inventory Return Bulletin No. RAA-CARBON-003 (July 1, 2021) (543 KB)
- Gasoline and Carbon Product Tax Rates and Inventory Return Bulletin No. RAA-CARBON-002 (November 7, 2020) (541 KB)
- Gasoline and Carbon Products Inventory Return Bulletin No. RAA-CARBON-001 (December 2018)
- May 5, 2017 – Gasoline Tax (RAA-GAS-02) (46 KB)
- Fuel Used in Mineral Exploration and Pre-Production of a Mine (13 KB)
- Wholesaler Licence Fees (12 KB)
- Retailer Licences (16 KB)
- Farming Exemptions (12 KB)
- Gasoline Tax Collectors-Dye Purchase and Distribution (15 KB)
- Tobacco Tax
- Health and Post Secondary Education Tax
- Insurance Companies Tax
- Administrative Service Only Plans (9 KB)
- Insurance Companies Tax (98 KB)
- Utilities and Cable Television Companies Tax (12 KB)
- Mining and Mineral Rights Tax
Economics and Statistics
The following documents are produced by the Economics and Statistics Branch:
- The Economy is an annual publication included as one of the Budget documents. It provides an overview of the performance of the provincial economy in the previous year and an outlook for the coming year. The following links provide access to this information:
- The Economic Update (3 MB) provides an update and overview of economic conditions since the Budget and the publication of The Economy.
- The Consumer Price Index Flashsheet (13.9 KB) contains the Consumer Price Index, retail sales and various other monthly economic indicators.
- The Labour Force Flashsheet (8.8 KB) contains the latest release of monthly labour market data.
- The The NLSA Publications page contains a variety of infographics on various socioeconomic topics.
- Historical Statistics of Newfoundland and Labrador is a publication containing detailed statistical information on Newfoundland and Labrador. Originally published in 1970, it serves as a foundation document for the release of annual supplements which update the data presented in each of the tables and identifies newly developed statistical series. Subsequent editions of this publication may be viewed at the Newfoundland & Labrador Statistics Agency Data Centre.
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