PC Government releases first budget

The Progressive Conservative Government delivered their first budget today. Finance Minister Craig Pardy delivered the budget.

Newfoundland and Labrador's economy is expected to grow 5.5 percent this year, the fastest in Canada.

Housing development, retail spending, and oil production are expected to rise while unemployment is down.

HEALTH

In the health care sector, $5.4 billion has been allocated. The money will be spent on a provincial nursing travel team and on implementing a Nurse Practitioner Funding Model.
To assist with the recruitment and retention of medical professionals, $11.5 million is promised.
Funds are also set aside for full coverage of eligible medical transportation costs.
Over $3 million dollars will be set aside for 24-hour care in Botwood and Whitbourne.
There will also be an increase in the Prescription Drug Program by $22-million.
Infrastructure funds were also announced for the redevelopment of St. Clare’s and Janeway.

Over $200 million across the fiscal forecast, for targeted relief from the affordability challenges facing residents.
Permanently reducing the provincial tax on gasoline at a cost of $67 million.
Increasing the basic personal amount exempt from income tax to $15,000, saving 285,000 taxpayers hundreds of dollars per year.
Doubling the Volunteer Firefighter and Search and Rescue Tax Credits to $6,000.
Increasing the Newfoundland and Labrador Seniors’ Benefit by 20 per cent, benefitting nearly 50,000 seniors.
Providing the Newfoundland and Labrador Child Benefit to 3,000 additional children, and increasing support to the 3,000 children already receiving the benefit.
Saving consumers $12 million annually by extending the Home Heating Supplement Program for those with an adjusted family income of $150,000 or less that use furnace or stove oil to heat their homes.
Saving consumers $25 million by extending the reduction in registration fees for passenger vehicles, light-weight trucks and taxis by 50 per cent in 2026.
Reducing the Small Business Tax Rate to 2 per cent as of January 1, 2026, 1.5 per cent on January 1, 2027, and 1 per cent on January 1, 2028.

$250 million to continue to support thousands of kilometres of new paving, culverts and bridge construction.
More than $184 million to support municipalities through programs and initiatives that help them grow stronger and more vibrant.
$17 million to create safer roadways, which includes $3 million for 24-hour snow clearing, $14 million for brush clearing, road signage, culvert replacement, road patching and moose fencing.
Over $11 million to enhance court services.
$9 million annualized to hire 46 new police officers over two years.
More than $7 million in additional funding to assist volunteer firefighters in responding to emergencies.
$1 million in Budget 2026, and continuing in future years, for a phased expansion of cellular coverage across the province.
More than $1 million to create 14 new positions in Public Prosecutions, which includes six new Crown Attorneys, as well as funding for digital modernization to better manage criminal matters before the courts.