Budget 2026: Opportunity for All of Us has passed a vote by MHAs in the House of Assembly, marking an important milestone for Premier Tony Wakeham and his government in building a stronger, more resilient Newfoundland and Labrador.

The Honourable Craig Pardy, Minister of Finance, welcomed the successful vote for the government’s first budget, which sets a clear path forward focused on seizing key opportunities and sustaining long-term growth.

In addition to the $45 million announced in April to offset Newfoundland Power’s planned July 1 electricity rate increase, Budget 2026 delivers targeted, forward-looking investments to make life more affordable, strengthen health care, and build safer communities across Newfoundland and Labrador.

It includes over $200 million in tax relief through lower taxes on gasoline and diesel, increased income tax exemptions, enhanced support for seniors and families, and reduced small business taxes. A $5.4 billion health care investment focuses on recruiting and retaining doctors and nurses, expanding training opportunities, adding diagnostic capacity, and eliminating medical travel costs. At the same time, $1.1 billion in responsible infrastructure investments will support roads, health care facilities, schools, municipalities, policing, courts, and emergency services, helping ensure communities are safer, more connected, and better positioned for long-term growth.

More detailed information on Budget 2026 is available online at www.gov.nl.ca/budget/2026.

Quotes
“This is an important milestone for our government and for the province. With Budget 2026, we are taking the first step in building a stronger, more resilient Newfoundland and Labrador, one where families feel supported, communities are stronger, and opportunity is within reach for all. Our focus now is on delivering results and moving this work forward.”
Honourable Tony Wakeham
Premier of Newfoundland and Labrador 

“Budget 2026 takes real action on affordability. With targeted tax relief and enhanced supports, like the 20 per cent increase to the Seniors Benefit and positive changes to the Newfoundland and Labrador Child Benefit, we are helping ease the cost of living and put more money back into the pockets of Newfoundlanders and Labradorians. Add to that our strong investments in health care and public safety, and I think I can speak on behalf of all my Honourable colleagues when I say this is a well-rounded budget that we are proud of.”
Honourable Craig Pardy
Minister of Finance

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Learn more
www.gov.nl.ca/budget2026

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