The Provincial Government is pleased to acknowledge that legislation to amend the Future Fund Act has passed Third Reading in the House of Assembly.

This legislation will restructure the Future Fund by removing the requirement for mandatory annual contributions and limiting withdrawals from the fund. These changes will help ensure that funds already set aside are protected for the repayment of debt and long-term liabilities, supporting greater financial stability and helping future generations avoid the fiscal pressures experienced today.

Advancing this legislation fulfils a commitment outlined in the Blue Book and aligns with the Provincial Government’s priority of building a stronger, more resilient Newfoundland and Labrador – for all of us.

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“These changes are intended to strengthen the Future Fund’s original purpose by ensuring it is preserved for debt reduction and long-term fiscal sustainability. By protecting these funds today, we are taking responsible action on behalf of future generations and reinforcing our commitment to prudent financial management.”
Honourable Craig Pardy
Minister of Finance

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