Helping Residents with the Cost of Living and Provincial Budget Highlighted Spring Sitting of Legislature

  • Executive Council

June 3, 2022

Investments that help Newfoundlanders and Labradorians with the impact that global events are having on the cost of living, advancing a financial plan that puts the province on stable footing, and strengthening our communities were focal points of the spring legislative agenda.

‘Budget 2022: Change is in the air’ was passed and confirms government’s target to be in surplus position by 2026-27. There was an emphasis on the cost of living with a package of supports totaling approximately $142 million. This includes increases in the Income Supplement and the Seniors’ Benefit, as well as broader measures such as a reduction in motor registration fees and the removal of retail sales tax on home insurance premiums.

Subsequently, government also announced a reduction in the provincial tax on gasoline and diesel and a one-time payment to be provided in the fall to supplement the cost of furnace oil used for home heating. All together, government is providing $222 million to help residents cope with cost of living pressures.

In addition to Budget 2022, legislation passed during this sitting included:

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“Traditionally, the spring sitting of the House of Assembly focuses on the provincial budget. While that was again the case during this sitting, government also placed emphasis on helping residents deal with the daily financial pressures they are facing during this unprecedented time. I thank all my colleagues, on both sides of the floor, for their thoughtful debate and contributions as we passed important legislation on behalf of the people of Newfoundland and Labrador.”
Honourable Steve Crocker
Government House Leader

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Media contact
Luke Joyce
Executive Council
709-729-0084
lukejoyce@gov.nl.ca

2022 06 03 1:00 pm