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Newfoundland and Labrador's soaring debt nears $20 billion, but it's overlooked in the Oct. 14 election despite warnings of tax hikes and service cuts.
Newfoundland and Labrador has Canada’s highest per-capita debt, nearing $20 billion, with annual debt servicing costs exceeding $1 billion, yet the issue receives little attention in the upcoming Oct. 14 provincial election.
Business and taxpayer groups urge parties to avoid costly promises, warning of future tax hikes or service cuts.
The NDP is the only party with a costed plan to eliminate deficits by 2026–27 through spending reductions, while the Progressive Conservatives and Liberals focus on tax relief and potential energy revenue.
Despite economic uncertainty from U.S. tariffs and stagnant growth, no party prioritizes debt repayment, and experts doubt any will make it a campaign centerpiece.
La creciente deuda de Terranova y Labrador se acerca a los $ 20 mil millones, pero se pasa por alto en las elecciones del 14 de octubre a pesar de las advertencias de alzas de impuestos y recortes de servicios.