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Federal government should include Newfoundland and Labrador in $1-billion stimulus: Senator Wells
February 27, 2016
image David M. Wells
David M. Wells
C - (Newfoundland and Labrador)

The Liberal government is considering an immediate $1-billion stimulus for Alberta and Saskatchewan. The Financial Post is reporting that the federal government will announce an infrastructure program aimed these two provinces due to the negative economic effect from declining oil prices.

The federal government must ensure that Newfoundland and Labrador is included in any infrastructure program designed to assist oil-producing provinces. Newfoundland and Labrador is not immune to the negative economic impacts of falling oil prices.

Newfoundland and Labrador’s offshore oil industry is a significant component and has made major contributions to our economy. Falling oil prices reduce revenues to the province and impact our ability to fund critical infrastructure.

By not including the province of Newfoundland and Labrador in a federal infrastructure program aimed at helping oil-producing provinces is unfair. The Liberal government needs to be fair and include Newfoundland and Labrador in any funding program targeted at assisting oil-producing provinces.