April 13th, 2024

CP NewsAlert: N.L. tables budget with $152-million deficit amid protests from fishers

By The Canadian Press on March 21, 2024.

Police line up in front of the legislature in St.John's on Thursday, March 21, 2024 as a large crowd of Newfoundland and Labrador fish harvesters has once again gathered after shutting down the provincial budget on Wednesday. THE CANADIAN PRESS/Sarah Smellie

ST. JOHN’S, N.L. – Newfoundland and Labrador Finance Minister Siobhan Coady today presented her budget for the 2024-25 fiscal year, projecting a deficit of $152 million.

Coady delivered the $10.4-billion budget a day late after protesting fishers managed to block the entrance to the legislature ahead of the planned tabling on Wednesday.

Today’s budget speech went ahead despite a crowd of more than 100 protesters outside the public entrance.

A record $4.1 billion, or nearly 40 per cent of all spending, will go to health care as the province struggles to recruit and keep doctors, nurses and other specialists.

Net debt will sit at $17.8 billion, which works out to more than $33,500 per capita in the province of about 530,000 people.

That’s an increase of roughly $1.6 billion from the net debt forecast in last year’s budget.

More coming.

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