The Canadian Taxpayers Federation says they’re concerned with the lack of a plan to get spending under control in Premier Andrew Furey’s first budget.
Newfoundland and Labrador’s debt is expected to reach $16.44-billion by the end of the 2020-21 fiscal year. The Canadian Taxpayers Federation says that works out to $31,489 per capita, making it the highest in the per capita debt in the country.
According to the budget, the province will pay $1.51-billion in interest payments on its debt this year—roughly $100-million more than the province will bring in from personal income taxes—with no estimates tabled for years after 2020-21.
CTF Interim Atlantic Director, Renaud Brossard, says while no one expected the budget to have good news, at the very least, the government should have a plan to get it back to balance. He says it jeopardizes the province’s ability to pay for its essential services in the future.
Brossard also took a shot at Premier Furey’s plans for $25/per day child care in 2021. He says now is not the time to bring in new and expensive programs such a subsidized daycare.
Further, he adds that if Premier Furey wants to help future generations, he needs to have a plan to start paying down the debt.
Brossard says it is time to protect the province’s ability to pay for its core programs like healthcare and education.






















