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Ottawa hands N.L. $5.2 billion for troubled Muskrat Falls hydro project


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Trudeau’s visit to St. John’s, N.L., wrapped up a two-day tour of Atlantic Canada that featured several major funding commitments, and he concluded his day in Newfoundland and Labrador by announcing the province will become the fourth to strike a deal with Ottawa for a $10-a-day child-care program.
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Ottawa hands N.L. $5.2 billion for troubled Muskrat Falls hydro project Back to video
As he addressed reporters, the prime minister was flanked by the six Liberal members of Parliament from the province. He alluded to the mismanagement that led the over-budget Muskrat Falls hydroelectric project to become what Liberal Premier Andrew Furey has called an “anchor around the collective souls” of the province. ....

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N.L. in financial crisis of its own making, time to rein in public spending: report


 
ST. JOHN S, N.L.
Poor management and a culture of indifference toward debt have brought Newfoundland and Labrador to a financial breaking point, according to a long-awaited economic report released Thursday.
The report titled The Big Reset says the province s overspending and debt-servicing burden put it at risk of being unable to pay public sector salaries and keep hospitals running. To correct course, the report says the government needs to rein in public sector spending, re-evaluate its contracts with unions and dismantle the provincial energy corporation.
We have been shocked as a panel to talk to very senior managers . who just think that deficits don t matter, said Moya Greene, who chaired the team behind the report. We were pretty surprised that we don t evaluate any of our programs, we just keep adding to (them). Those are ordinary principles of management. ....

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Newfoundland government vows to tackle 'extensive economic crisis' in Throne Speech


The Globe and Mail
ST. JOHN S
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Paul Daly/The Canadian Press
Newfoundland and Labrador Lt.-Gov. Judy Foote delivered the provincial government’s Speech from the Throne Thursday morning, which vowed to tackle the province’s “extensive economic crisis.”
The strong choice of words drew a sharp contrast to the tone of newly re-elected Liberal Premier Andrew Furey’s campaign, during which he mostly avoided discussing the province’s dire financial outlook. ....

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