Newfoundland and Labrador Finance Minister Craig Pardy addresses reporters after providing an update on the province’s finances, in St. John’s, N.L., on Dec. 16, 2025. (The Canadian Press/Sarah Smellie）
Newfoundland and Labrador’s new budget is projecting a $688.5-million deficit for the 2026-27 fiscal year with no end in sight to annual shortfalls.
The province’s Progressive Conservative government tabled its first budget Wednesday since unseating the Liberals in a provincial election last fall. The $11.5-billion spending plan, titled “Opportunity for All of Us,” includes tax breaks, a boost in health-care spending and money for the oil industry.
