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Newfoundland and Labrador budget projects $688 million deficit

  • The Canadian Press

  • Canadian Press

  • April 29, 2026

Newfoundland and Labrador Finance Minister Craig Pardy addresses reporters after providing an update on the province's finances, in St. John's, N.L., on Tuesday, Dec. 16, 2025. THE CANADIAN PRESS/Sarah Smellie

ST. JOHN'S -- Newfoundland and Labrador is projecting a deficit of $688.5 million.

The Progressive Conservative government tabled a $11.5-billion budget forecasting a net debt of $20.8 billion by the end of the 2026-27 fiscal year.

Interest and other debt fees are expected to cost $1.2 billion, accounting for 10 per cent of the province's total expenses.

The Tory budget outlines more health-care spending and tax breaks, but it includes no plans to balance the books.

More coming.

This report by was first published April 29, 2026.