NL government promises steps to control debt in election year throne speech

first_imgThe Canadian Press ST. JOHN’S, N.L. — With an election expected by the end of June, Newfoundland and Labrador’s government is promising a slow but steady balancing act to get the province’s finances back on track.The throne speech presented by Lt.-Gov. Judy Foote on Thursday touted the Liberal government’s reductions in debt since being elected in 2015.It also highlighted the province’s strong working relationship with the federal Liberals.Foote pointed to the recently reviewed Atlantic Accord, saying the $2.5 billion in federal money over 38 years will be spent wisely to reduce net debt and bring stability to the province.Her remarks also repeated plans for new medical facilities, including an acute regional care centre on the province’s west coast and two care homes in central Newfoundland.She suggested the projects will be financed through public-private partnerships.The speech touted the government’s long-term plans to expand the province’s mining and offshore resource industries and hinted at new legislation to protect domestic violence victims.last_img read more