The Board of Trade is urging a straightforward approach to resource development as the province stares down a $1 billion deficit.
Government is vowing to deliver on promises made during the election, without raising taxes through what it calls “smarter spending,” but a detailed blueprint on how to achieve that has yet to be revealed.
Board of Trade CEO AnnMarie Boudreau is urging a prudent approach without limiting business and investment growth.
She says at a time when disposable income has decreased ‘significantly,’ businesses react, and oftentimes that’s to shrink. “It’s really hard to grow, or develop, or hire or invest, when we’re living in a climate like this. Additionally in a province like ours, it’s hard to attract outside investment.”
That’s why, says Boudreau, it’s important for government to carefully consider the development of its resource wealth, and that includes the Upper Churchill, currently under review.
“There are so many businesses that are looking to Newfoundland and Labrador in the energy space, in the mining space, as a market that they want to invest in. So how we position, how trustworthy and reliable and transparent the information that comes from government is, really matters to our economy and to our future.”
