NL Budget: Big on Resources, Big on Health

0:00Newfoundland and Labrador's progressive conservative government just unveiled its budget for the 2026-27 fiscal year. They're staring down a deficit of $688.5 million with net debt climbing to $20.8 billion by the end of it. Healthcare grabs the biggest slice at $5.4 billion, 42% of all spending. That includes $47 million to build 200 new long-term care beds, aiming to ease the strain on facilities. To cut reliance on pricey travel nurses, they're dropping $6.5 million on a squad of 25 local nurses. These homegrown pros will fill gaps in hospitals without the high agency fees. The economy's looking up though, with real gross domestic product projected to hit nearly $34 billion, a solid 5.5%. Jump, fueled by mining and oil. That's one of the top growth rates across Canada. Oil production should crank out 97.8 million barrels next year, up 12%, pumping 19% of provincial revenues.

1:04From royalties, this budget bets big on resources to balance the book's long term. Canada News, today powered by AI bringing you what matters.