Crosbie Warns Trudeau that Delay Puts

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Crosbie Warns Trudeau that Delay Puts Province at Risk
PC Leader and MHA for Windsor Lake, Ches Crosbie is warning Prime Minister Trudeau that delay in delivering investment incentives to the Newfoundland and Labrador offshore petroleum industry is putting the future of the province at risk.
Monday, June 1, 2020

Office of the Official Opposition
For Immediate Release

 

St. John’s, NL (June 1, 2020) –PC Leader and MHA for Windsor Lake, Ches Crosbie is warning Prime Minister Trudeau that delay in delivering investment incentives to the Newfoundland and Labrador offshore petroleum industry is putting the future of the province at risk.

“Last week, I sent a letter to Prime Minister Trudeau not to plead, but to warn that his failure to deliver tax incentives to make investment in our offshore industry competitive with the investment regimes offered elsewhere puts a third of our economy at risk” said Crosbie. “Our federal cabinet representative Silent Seamus O’Regan’s failure to deliver competitive incentives would prove his irrelevancy.”

Crosbie noted the negative outlook given the province Friday by a major bond rater, and said that a strong oil and gas industry is essential to the province’s economic recovery and without it, a population loss looms comparable to that triggered by the 1992 Cod Moratorium.

In his letter to the Prime Minister, Crosbie wrote: “This week industry and provincial political officials publicly pleaded with you for industry support. The economic viability of the country’s most easterly province is in the balance…Mr. Prime Minister, on behalf of all Newfoundlanders and Labradorians I urge you to deliver a world-competitive investment regime for our offshore industry. History is watching.”

 

Contacts:

Bradley Russell

Director of Policy and Research

(p) 1.709.729.3668

BradleyRussell@gov.nl.ca

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