The Opposition says they will be watching the newly-announced European borrowing program closely.
Premier Andrew Furey and Finance Minister Siobhan Coady were in London on Monday to launch the program, which will see bonds listed on the London Stock Exchange in hopes of lowering borrowing costs.
PC Leader David Brazil issues a caution about the program.
(Photo via Gov NL.)
The Premier has said European bonds will be issued only if it is in the best interest of the province. However, Brazil says that borrowing internationally could come with the uncertainty of fluctuating currency conversion rates, which may cost taxpayers in the long term.
As well, Brazil is calling into question Furey and Coady’s trip to launch the program, asking why they felt the need to spend taxpayer dollars on “yet another trip abroad.”
Brazil says they were elected to govern Newfoundland and Labrador, not travel the world.
