• 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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• 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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• 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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• 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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