(May 31, 2021) – PC Opposition Leader David Brazil and Tony Wakeham, PC Opposition Shadow Minister of Finance, say Furey’s first budget is full of aspiration and tax increases, but light on details.

The 2021 budget is the highest spending budget in the province’s history, at $9.3 billion. Yet, in 2022-23 expenses are projected to be slashed by $900 million.

“Today’s budget is foreshadowing for huge cuts in spending in next year’s document. The budget today announced a series of reviews and analysis to come, but lacked any detail on what spending cuts we can expect in next year’s document,” said Brazil.

“Minister Coady said repeatedly that we didn’t get in this financial mess overnight, yet all the spending reduction is due next year with no detail for how government gets there. Is that when we can expect a 25 per cent cut to healthcare? Is that when Memorial University will become Memorial College?”

Wakeham says while tax increases are a burden on the province, it’s good to see only those in higher earning brackets will see their taxes go up.

The province needs to tread carefully on planned review of public assets to be put up for sale, said Wakeham.

“You can only sell a public asset once. As a province, we must be certain that any sale of public assets is for the long-term benefit of the people of Newfoundland and Labrador. We can’t let a short-sighted cash grab impede long-term revenues and employment for the province,” said Wakeham.

“The PC Caucus is willing to have conversations with the Liberal government about initiatives announced in today’s budget, but transparency is vital. The people of the province deserve to know the details of what Furey plans to pluck from his Greene report and impose on Newfoundland and Labrador.”
 

David Maher

Director of Strategic Communications

(cell) 709-725-0984

DavidMaher@gov.nl.ca

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