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Fixing finances a challenge in Newfoundland and Labrador

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A crippling financial crisis in Newfoundland and Labrador has Premier Andrew Furey considering his options, in a plan the provincial government is calling the “Big Reset.”

Even for a province that’s endured a series of economic collapses, including the cod moratorium, this crisis hits hard. It’s the result of a big increase in government spending when oil prices were high, followed by the crash in oil prices, and then, the pandemic.

As Ross Lord reports in part two of our series, Newfoundlanders are struggling to foresee a solution that doesn’t cause more pain.

For more info, please go to https://globalnews.ca/news/8193571/what-comes-next-newfoundland-labrador-concerns/
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Category
U.S. & Canada
Tags
global news, Newfoundland and Labrador, Newfoundland financial crisis
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