ST. JOHN’S — The Progressive Conservative government in Newfoundland and Labrador is set to table their spending plan for the indebted province’s year ahead.

Finance Minister Craig Pardy’s budget for the 2026-27 fiscal year is expected to come with a deficit, though he hasn’t given many hints on what the shortfall may be.

He has, however, said that he expected the fiscal year that ended on March 31 to close out with a deficit nearing $1 billion.

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.

The Tories made campaign promises totalling nearly $285 million before they unseated the Liberals in the October provincial election.

Wakeham also said he would prioritize making life more affordable for Newfoundlanders and Labradorians ahead of tackling the provincial deficit.

This report by The Canadian Press was first published April 29, 2026.

The Canadian Press