Government of Newfoundland and Labrador
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The PC government proposed changes to Bill 9 that would relax strict withdrawal rules and contribution requirements for Newfoundland and Labrador’s Future Fund. The fund, created by the Liberals in 2023, holds part of the province’s non-renewable revenue (oil and gas).
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The Newfoundland and Labrador government proposed amendments to the Future Fund through Bill 9 to allow immediate withdrawals from the fund, but only to pay debt and certain liabilities, relaxing current rules that barred withdrawals for strategic priorities until 2033. The plan also removes mandatory annual royalty contributions, allows withdrawals…
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The PC government proposed changes to the Future Fund. The Liberal opposition claims the changes weaken the fund, while the finance minister says the goal is to decrease borrowing.
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