April 6, 2017
For Immediate Release

Budget Leaves Crushing Tax Burden in Place as the
Liberals Project Higher Unemployment, Slowing Economy in 2017

Paul Davis, Leader of the Official Opposition, said, “Last year, Budget 2016 imposed more than 300 tax and fee hikes on Newfoundlanders and Labradorians, and Budget 2017 reduces just one of them. The crushing load of heavy taxes on everything from retail sales and personal income to insurance and books will continue to overburden families and employers, and leave Newfoundland and Labrador the only province in the country to slip into recession, with lower incomes and higher unemployment, in 2017. That is not the growth the Liberals promised to deliver. Instead of creating the conditions for growth, the Liberals are driving our economy into the ground. The Liberals’ failed approach is crushing people and costing opportunities in Newfoundland and Labrador.”

Davis said, “While we are pleased to see the deficit headed in the right direction, the budget improvements the Liberals are reporting this year don’t reflect sound fiscal management by their government, but energy investments by the previous government. Our energy investments over the past decade are now paying huge dividends, and higher oil revenue is the only bright spot in the Budget, improving the bottom line by half a billion dollars. The Liberals’ own management initiatives have saved less than $100 million. The uncertainty continues to hang over our economy, and that does not bode well for our future.”

“The devil is in the details, and many of the details of this year’s Budget choices are hidden – not provided in the Budget documents. We will have many questions to ask in the weeks to come as we dig into the Budget documents.”

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Media Contact:
Heather MacLean
Director of Operations and Communications
Office of the Official Opposition
(709) 729 6105, heathermaclean@gov.nl.ca