ST. JOHN'S, N.L. — Newfoundland and Labrador Finance Minister Siobhan Coady is scheduled to release her 2024-25 budget today, with an expectation that the...
ST. JOHN'S, N.L. — Newfoundland and Labrador Finance Minister Siobhan Coady is scheduled to release her 2024-25 budget today, with an expectation that the books will be balanced.
As of October, officials were expecting to end the current fiscal year with a net debt of $17.1 billion, up from the $16.2 billion forecast earlier that year, while GDP stood at $32.2 billion.Newfoundland and Labrador is set to receive a federal equalization payment worth about $218 million in 2024-25, the first time since 2008 it has qualified for the transfer aimed at levelling fiscal disparities among provinces.
A senior executive with struggling paper giant Kruger spoke to reporters in Newfoundland and Labrador on Monday, but left them with more questions than answers about a new agreement to sell power to the province and prop up its Corner Brook paper mill. How much electricity will be sold? How much will taxpayers pony up? How is this different than the existing power purchase agreement between the two sides? Senior vice-president Roman Gallo fell short of answering any of those questions.
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