Province In Crisis: The Fiscal Challenges Facing Newfoundland And Labrador
The recently released Greene Report underscores the financial difficulties faced by Newfoundland and Labrador. A province with a debt load of $47-billion, an aging and declining population, and an over-reliance on the oil and gas industry. The province has a structural deficit as a result of spending during premier Danny Williams’ time in office and has had 61 deficits in the 71 years since joining Confederation.
The question is whether or not the province is ready to face its problems head-on and accept the strong medicine prescribed by Dame Greene. Cathy Bennett, the former Liberal Finance Minister, joins Don Mills and David Campbell on the latest episode of Huddle “Insights” to address this question.
This is the second in a four-part series of episodes on each of the provincial economies in the region. Last week, Don and David spoke with Wade MacLauchlan, former premier of Prince Edward Island, which has led the way in both population growth and GDP growth in the region for the last decade.
Podcast: Why P.E.I. Is The Economic Star Of Atlantic Canada
The “Insights” podcast combines the experiences of an economist, David Campbell, and a social scientist, Don Mills, to explore the challenges and opportunities facing Atlantic Canada, to promote data-driven decision-making among policymakers, and to encourage a wider dialogue and debate leading to greater prosperity for the region.
Listen to Don and David’s interview with Wade in the player above or on your favourite podcast platform. Search for “Huddle Insights” on platforms like Apple and Spotify, and subscribe so you don’t miss an episode. You can also listen to past conversations there or here.
“Insights” is part of a Huddle podcast network that also features Home Office, hosted by Huddle editor Mark Leger.