Newfoundland and Labrador's new Tory government will table a budget April 29

Newfoundland and Labrador Finance Minister Craig Pardy addresses reporters after providing an update on the province's finances, in St. John's, N.L., on Tuesday, Dec. 16, 2025. THE CANADIAN PRESS/Sarah Smellie

ST. JOHN’S — The Progressive Conservative government in Newfoundland and Labrador says it will table its first budget on April 29.

The party made campaign promises totalling nearly $285 million before unseating the Liberals in the October provincial election.

While other Atlantic premiers have announced sweeping cuts to offset large deficits, Newfoundland and Labrador Premier Tony Wakeham has made no promises to balance the books.

Wakeham had campaigned on a vow to help Newfoundlanders and Labradorians balance their own budgets first before he would take on the provincial deficit.

Finance Minister Craig Pardy has said he expected the deficit for the 2025-26 fiscal year to approach $1 billion.

The province has a population of about 540,000 spread out across a vast geography and governments have long struggled to provide services without falling into debt.

Government data shows the province has recorded just nine budget surpluses in the past 31 years.

This report by The Canadian Press was first published April 22, 2026.