Newfoundland and Labrador Fiscal Snapshot: Winter 2018
The Conference Board of Canada, 14 pages
February 1, 2018
This “fiscal snapshot” looks at the state of Newfoundland and Labrador’s economy and its government’s fiscal challenges, and provides a short- and medium-term outlook for the province.
- Newfoundland and Labrador’s fiscal position has improved substantially since 2015–16 because of tax increases and a slight rebound in oil prices.
- Despite this improving fiscal situation, economic prospects remain weak, and the province must address an unsustainable level of spending on government services, particularly in areas of health care and education.
- Controlling expenses is critical to return the fiscal situation to a sustainable path.