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NLEC – 2016 Provincial Shadow Budget

Developed with research conducted by the Conference Board of Canada

Responsible fiscal management and competitive tax policies encourage investment and economic growth, creating jobs and contributing to a higher standard of living for all Newfoundlanders & Labradorians. The current economic and fiscal situation in the province is the number one issue of concern for senior business leaders. Given the magnitude of the current fiscal crisis, the Employers’ Council commissioned the Conference Board of Canada to examine a variety of possible routes government could take in the 2016 provincial budget to return the province to a sustainable fiscal position.

The Conference Board examined spending in NL as compared to other provinces on a per capita or per GDP basis. They also measured the economic impact of tax increases and spending reductions to specific program categories, and made recommendations for NL. Based on this research the Employers’ Council has developed the following Shadow Budget, recommending expenditure and revenue targets for government over the next four years.

Employers-Council-Shadow-Budget-2016

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