We are inviting you to share your ideas on how to modernize government in advance of Budget 2021. Solutions are needed to address long-standing structural issues such as the high cost of providing services to nearly 600 communities across a large geography, chronic deficits, dependence on volatile oil revenues, as well as a declining and aging population.
The economic impact of the global COVID-19 pandemic has deepened an already difficult financial situation. The deficit in 2020-21 is projected to be $1.84 billion. Annually, we are spending more than we are making in revenue and we have limited capacity to absorb further borrowing given our current debt load.
We are bringing together expertise from residents and stakeholder groups to hear big bold ideas focused on:
making a positive financial impact on government’s annual deficit situation;
minimizing impact on public services; and
contributing to a diversified and growing economy.
This insight, as well as the recommendations of the Premier's Economic Recovery Team and Health Accord NL, will inform our path.
Health Accord NL will reimagine the health care system in order to best deliver services to meet the needs of people in communities across the province. They have launched a series of regional consultations. More information is available at https://healthaccordnl.ca/.
We have a strong foundation and much potential.
Innovative people and businesses
Educated labour force
More than 2000 new tech jobs expected to be in demand over the next three years
Increasing number of immigrants (nearly doubled since 2015)
Successful technology start-ups (e.g., Verafin, Kraken, Genoa Design and others)
Abundant natural resources
Offshore oil and gas: new discoveries in the Flemish Pass, tieback opportunities to existing projects, and significant resource potential of 63.6 billion barrels of oil and 224.1 trillion cubic feet of gas in just 10 per cent of the province’s offshore
Mining: gross value of mineral shipments forecast to be $4.2B in 2020
Fisheries: valued at approximately $1.4B; employs 15,000 people in over 400 communities
Aquaculture: major new projects expected to more than double the size of the industry
Agriculture: valued at $250 million; employs more than 3,000 people
Tourism: unique physical environment, $1 billion in spending and a significant employer
Success and potential in Newfoundland and Labrador’s film and television sector
Our financial challenges are real.
COVID-19 economic impacts
Lower oil price: $39 ($US per barrel) budgeted for 2020-21
Net debt $16.4B
Continued annual deficits based on status quo, including current year projected deficit $1.8B, leading to higher debt and increasing annual debt expenses ($1.1B for 2020-21)
Geographically dispersed: nearly 600 communities connected by almost 10,000 kilometres of roads
Declining population: more deaths than births since 2012; increasing concentration of NL’s population in larger urban centres; 529,426 as of July 1, 2016; 522,103 as of July 1, 2020
How can you get involved?
Given our financial situation is unsustainable, what would you do to:
Increase annual revenues
Decrease annual expenses
Modernize government’s delivery of programs and services
Insight from residents and stakeholder groups, as well as recommendations from the Premier's Economic Recovery Team and Health Accord NL, will inform our path.
How will your input be used?
The information we receive will be reviewed by Department of Finance, along with other relevant government departments. Feedback will be considered as the Provincial Government explores how to modernize government in advance of Budget 2021.
Privacy Statement
The collection of information is done under the authority of section 61(c) of the Access to Information and Protection of Privacy Act, 2015 for the purpose of collecting public feedback on the how to modernize government in advance of Budget 2021. Please do not provide unnecessary personal information in your submissions.
Any personal information that may be received will be governed in accordance with the Access to Information and Protection of Privacy Act, 2015 and will only be used for the purpose of providing a response to submissions received and informing public engagement results at the end of the process.
If you have any questions about how this information will be collected, used and disclosed, please contact Diana Quinton by email at [email protected] or by phone at (709) 729-2477.
Contact Us
If you have any questions or additional comments, please contact Diana Quinton, Director of Communications, by email at [email protected] or by phone at (709) 729-2477.
