Auditor General Confirms Liberal Tobacco Settlement Numbers Misleading

St. John’s, NL (September 10, 2025)  – Today, Tony Wakeham, Leader of the Progressive Conservative Party and MHA for Stephenville–Port au Port, said the Auditor General’s annual audited public accounts prove the Liberal government misled the public by overstating revenues from a $520-million tobacco settlement.

This spring, the Liberals booked the entire settlement on the province’s books even though the money will only be paid out over the next 30 years. Audited financial statements have since forced a change in that accounting treatment.

“This spring, the Liberals booked settlement money they knew wouldn’t be paid for decades, and they did it on the eve of an election,” said Wakeham. “John Hogan voted for the very budget that misled the public. This is the same government that voted to hand themselves bonuses and spent taxpayers’ money on air fryers for travel nurses. They simply can’t be trusted any longer to handle our province’s finances.”

Lin Paddock, PC Shadow Minister of Finance and MHA for Baie Verte–Green Bay, said John Hogan’s Liberals knowingly inflated the province’s revenues to mislead the public.

“Despite the Auditor General’s clear position, the Liberals rushed half a billion dollars onto the books to make the financial position of our province look better than it actually is, and just before voters head to the polls,” added Paddock. “That’s manipulative accounting (cooking the books), plain and simple. It’s irresponsible, contrary to proper accounting, and it is a shameful attempt to deceive the people of our province.”

After 10 years of scandals and cover-ups, Newfoundlanders and Labradorians continue to lose confidence in how the Liberals are handling their public money. It’s now time for a government that gets to work for all of us, not just Liberal friends, and insiders.