An update is coming today on the province’s fiscal situation.

Finance Minister Siobhan Coady will deliver the Fall Fiscal and Economic Update today at noon.

Government has begun efforts to streamline spending under a $47 billion dollar cumulative debt. Among the measures being considered are the sale of assets, while tax increases for some of the province’s highest earners and the introduction of a new sugary drink tax don’t come into effect until the new year.

Early this year Nalcor and NL Hydro merged into one entity, while the English School District is set to be absorbed into the Department of Education.

Costs associated with the ongoing COVID pandemic and response to the cyber attack on health care IT systems will no doubt add to the province’s expenditures.

VOCM News is covering the fiscal update and will carry it live on 590 VOCM at noon.