• Minister Pardy Introduces Legislation to Reduce Gas Tax to Zero

  Source: Newfoundland & Labrador - Government Releases
  Date: 2026-10-29 18:55:16.0
  Tags: [Newfoundland and Labrador, Taxation, Finance, Affordability, Energy]

  On October 29, 2026, Newfoundland and Labrador Minister of Finance Craig Pardy introduced legislation to reduce the provincial tax on gasoline and diesel to 0 cents per litre, down from 7.5 cents and 9.5 cents respectively. Factoring in the Harmonized Sales Tax (HST), drivers will save 8.625 cents per litre on gasoline and 10.925 cents per litre on diesel amidst record high fuel prices. The legislative amendments also establish a protective mechanism to keep provincial fuel taxes at zero for as long as oil prices remain above a specified threshold. This measure is part of the Provincial Government's broader Budget 2026 initiative, which has invested over $275 million in cost-of-living relief.

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• Minister Pardy Introduces Legislation to Reduce Gas Tax to Zero

  Source: Newfoundland & Labrador - Government Releases
  Date: 2026-10-29 18:55:16.0
  Tags: [Newfoundland and Labrador, Taxation, Affordability, Finance, Energy]

  The Government of Newfoundland and Labrador, through Minister of Finance Craig Pardy, introduced legislation to reduce the provincial tax on gasoline and diesel to 0 cents per litre. This policy removes the existing provincial taxes of 7.5 cents per litre for gasoline and 9.5 cents per litre for diesel, resulting in total savings at the pump—including Harmonized Sales Tax (HST)—of 8.625 cents per litre for gasoline vehicles and 10.925 cents per litre for diesel vehicles. Furthermore, the legislative amendments establish a safeguard mechanism to maintain the provincial fuel tax at zero as long as oil prices stay above a specified threshold, forming part of the provincial government's broader $275 million cost-of-living relief initiative.

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• Provincial Government Cutting Gas Tax on Gasoline and Diesel to Zero Beginning December 1

  Source: Newfoundland & Labrador - Government Releases
  Date: 2026-10-26 14:15:53.0
  Tags: [Newfoundland and Labrador, Taxation, Affordability, Energy, Finance]

  The Government of Newfoundland and Labrador, through Minister of Finance Craig Pardy, announced that the provincial gas tax on gasoline and diesel will be reduced to zero cents per litre from December 1, 2026, to March 31, 2027. The Provincial Government will introduce legislative amendments in the House of Assembly to enact these changes and establish a permanent mechanism to keep the provincial fuel tax at zero whenever fuel prices exceed a specified threshold. This measure represents $25 million in affordability relief, contributing to a broader $79 million cost-of-living package that also includes the accelerated Churchill Falls Electricity Rebate and a doubled Home Heating Supplement.

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• Premier Wakeham Announces $54 Million in Additional Affordability Relief

  Source: Newfoundland & Labrador - Government Releases
  Date: 2026-10-22 12:50:01.0
  Tags: [Newfoundland and Labrador, Affordability, Energy, Taxation, Finance]

  Premier Tony Wakeham and Minister of Finance Craig Pardy announced a $54 million affordability package to assist residents of Newfoundland and Labrador with winter energy costs. The initiative accelerates the implementation of the Churchill Falls Electricity Rebate starting in January 2027, providing residential customers of Newfoundland Power and Newfoundland and Labrador Hydro a 15 per cent reduction (up to 2,000 kilowatt-hours per month) estimated at $351 annually, costing $45 million for the remainder of the 2026-27 fiscal year. Additionally, the maximum Home Heating Supplement for households relying on furnace or stove oil is doubled from $500 to $1,000 for the 2026 program, providing roughly $9 million in relief to approximately 9,000 current applicants.

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• Auditor General Issues Public Accounts Audit Opinion

  Source: Newfoundland & Labrador - Government Releases
  Date: 2026-10-19 13:30:03.0
  Tags: [Newfoundland and Labrador, Finance, Governance]

  Auditor General of Newfoundland and Labrador Denise Hanrahan issued the province's 32nd consecutive unqualified audit opinion on the 2025-26 Public Accounts, marking the Office of the Auditor General's clean assessment of the government's financial statements. The financial documents, prepared under Chartered Professional Accountants of Canada standards, outline a provincial operating deficit of $378 million, a net debt of $19 billion, and total liabilities reaching $36 billion. Unlike the previous fiscal year, accounting issues related to the tobacco settlement did not recur, as the province fully paid the remaining $98 million in total settlement legal fees upfront rather than linking payments to future revenue realization.

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• Minister Pardy Tables 2025-26 Public Accounts

  Source: Newfoundland & Labrador - Government Releases
  Date: 2026-10-16 16:05:45.0
  Tags: [Newfoundland and Labrador, Finance, Economy, Taxation, Infrastructure]

  The Government of Newfoundland and Labrador released its independently audited 2025-26 Public Accounts ahead of the November 1 statutory deadline, revealing a deficit of $377.6 million, which is $5.8 million higher than originally budgeted. Total revenue exceeded the budget by $420.8 million, bolstered by offshore royalties reaching $1.7 billion—approximately $350 million higher than the previous year—along with increased taxation and federal revenues. The province invested approximately $774 million in capital acquisitions for public infrastructure, transportation assets, health care facilities, and schools, while net debt at year-end was approximately $434 million lower than originally budgeted and the unfunded pension liability declined by approximately $483 million.

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• Market diversification added to focus of renewed Atlantic Fisheries Fund

  Source: Prince Edward Island - Regional News
  Date: 2026-10-15 20:43:09.0
  Tags: [National, New Brunswick, Nova Scotia, Prince Edward Island, Newfoundland and Labrador, Trade, Fisheries, Industry, Finance]

  The federal government and the Atlantic provincial governments are replenishing the Atlantic Fisheries Fund with more than $300 million over the next five years, funded 60 per cent federally and 40 per cent provincially, in response to ongoing trade disputes and tariffs with the U.S. Federal Fisheries Minister Joanne Thompson announced that market diversification has been added as a new funding pillar alongside innovation, infrastructure, and science partnerships to assist harvesters and processors such as Cooke Inc., the P.E.I. Fishermen’s Association, Scotia Harvest, and Icewater Seafoods in entering new international markets. Over the past nine years, the fund has previously distributed $370 million to more than 1,300 projects across Atlantic Canada.

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• Atlantic Canadian businesses can now apply for nearly $40M in AI funding

  Source: Prince Edward Island - Regional News
  Date: 2026-10-14 18:00:00.0
  Tags: [Prince Edward Island, Nova Scotia, New Brunswick, Newfoundland and Labrador, National, Technology, Economy, Industry, Finance]

  The Atlantic Canada Opportunities Agency has launched a federal funding program offering nearly $40 million for small and medium-sized businesses pursuing large-scale artificial intelligence projects costing at least $1 million. The funding supports two primary tracks: adopting AI into internal business operations, such as proposal development tools utilized by Cabco Technologies, or developing new AI solutions to bring to market. Applications for the program remain open until November 20. The initiative aims to address a regional adoption gap highlighted by the Atlantic Economic Panel, which reported that approximately 15 per cent of Atlantic Canadian businesses with 10 or more employees use AI, compared to 20 per cent nationally.

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• Members’ Compensation Review Committee Delivers Final Report

  Source: Newfoundland & Labrador - Government Releases
  Date: 2026-10-13 12:30:05.0
  Tags: [Newfoundland and Labrador, Governance, Finance]

  The 2026 Members’ Compensation Review Committee, conducted by Heather M. Jacobs, KC, has delivered its final report on salaries, allowances, severance, and pensions for Members of the House of Assembly in accordance with Section 16 of the House of Assembly Accountability, Integrity and Administration Act. The House of Assembly Management Commission is scheduled to review the recommendations during a technical briefing on Wednesday, October 21, 2026, ahead of potential legislative amendments. Any recommendations accepted by the Commission regarding salaries and pensions will require consideration of a related bill in the House of Assembly.

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• Provincial Government Delivers on Commitment to Strengthen Hospice Care in Central Newfoundland

  Source: Newfoundland & Labrador - Government Releases
  Date: 2026-09-29 15:30:40.0
  Tags: [Newfoundland and Labrador, Healthcare, Social Services, Seniors, Finance]

  The Government of Newfoundland and Labrador announced an additional $400,000 investment in Budget 2026 for the Lionel Kelland Hospice in Grand Falls-Windsor, bringing total provincial funding to $2.7 million for the 2026-27 fiscal year. The funding builds upon an existing annual baseline allocation of $2.3 million to support specialized, around-the-clock end-of-life care, pain management, bereavement programs, and family support services. Operated in partnership with NL Health Services, the facility aims to provide community-based hospice care and relieve operational pressure on regional hospital resources.

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• Provincial Government Advances Planning for the Future of St. Clare’s Mercy Hospital

  Source: Newfoundland & Labrador - Government Releases
  Date: 2026-09-18 17:30:02.0
  Tags: [Newfoundland and Labrador, Healthcare, Infrastructure, Finance]

  The Government of Newfoundland and Labrador, through the Department of Transportation and Infrastructure and the Department of Health and Community Services, has issued a request for proposals (RFP) via MERX for a multidisciplinary consulting team to conduct a comprehensive assessment of St. Clare's Mercy Hospital. The work includes a facility condition assessment, accessibility review, environmental and hazardous materials investigations, and an expansion feasibility study to support long-term healthcare infrastructure planning on the Northeast Avalon. This initiative follows the provincial government's announcement in January 2026 to begin planning the redevelopment of St. Clare’s Mercy Hospital, supported by Budget 2026's $5.4 billion investment which includes an additional $370 million for health care.

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• Residential Customers to Benefit from Provincial Government’s New Electricity Rebate

  Source: Newfoundland & Labrador - Government Releases
  Date: 2026-09-11 13:00:09.0
  Tags: [Newfoundland and Labrador, Affordability, Energy, Finance]

  The Provincial Government of Newfoundland and Labrador announced the Churchill River Electricity Rebate, which will provide a 15 per cent electricity rebate for residential ratepayers on their first 2,000 kWh of usage per month. Announced by Minister of Finance Craig Pardy, the measure is contingent upon the finalization of definitive agreements for a new Churchill Falls agreement expected by the end of 2026. Given that provincial households average 1,400 to 1,500 kWh of electricity usage per month, the rebate is projected to save ratepayers an average of $351 per year.

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• Minister Dinn Welcomes Students Back to School for a Successful New School Year

  Source: Newfoundland & Labrador - Government Releases
  Date: 2026-09-09 14:00:40.0
  Tags: [Newfoundland and Labrador, Education, Finance]

  The Government of Newfoundland and Labrador announced the start of the 2026-27 K-12 school year across over 250 schools in the province under Minister of Education and Early Childhood Development Paul Dinn. Budget 2026 allocates almost $625 million for educators, teaching, and learning assistants—representing a $29 million increase to fund an additional 94 teachers and 20 teaching and learning assistants. Additionally, the budget includes $2 million in funding dedicated specifically to student assistant supports.

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