The Honourable Siobhan Coady, Deputy Premier and Minister of Finance, is inviting residents to share their ideas in advance of Budget 2021 on how to modernize government’s delivery of programs and services, increase revenues, and decrease expenses.
Newfoundland and Labrador has a strong foundation, innovative people and businesses, and abundant natural resources. Solutions are needed to address long-standing structural issues such as the high cost of providing services to nearly 600 communities across a large geography, chronic deficits, dependence on volatile natural resource revenues, as well as a declining and aging population.
The economic impact of the global COVID-19 pandemic has deepened an already difficult financial situation. The deficit in 2020-21 is projected to be $1.84 billion. Annually, the province is spending more than it is making in revenue and there is limited capacity to absorb further borrowing given the current debt load.
Residents are encouraged to submit their ideas on modernizing government online at engagenl.ca or by email at Budget2021@gov.nl.ca by February 12, 2021.
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“We are bringing together expertise from residents and stakeholder groups to hear big, bold ideas on reducing the province’s budget deficit, minimizing impact on public services, and contributing to a diversified and growing economy. This insight, as well as the recommendations of the Premier’s Economic Recovery Team and Health Accord NL, will inform our path. We will modernize and transform government, address our structural challenges and move forward with strength.”
Honourable Siobhan Coady
Deputy Premier and Minister of Finance
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Les résidents sont invités à soumettre leurs idées sur la modernisation du gouvernement
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Media contact
Diana Quinton
Finance
709-729-2477, 697-1566
dianaquinton@gov.nl.ca