2013 Newfoundland and Labrador Budget Report

March 26, 2013

On March 26, 2013, the Honourable Jerome Kennedy, Minister of Finance and President of Treasury Board, tabled the 2013 budget. In this budget, the government sets out a 10-year Sustainability Plan to return the province to a balanced budget by 2015-16, and to reduce net debt per capita to the all-province average within 10 years, while protecting vital services. This plan factors in changes in oil revenues as well as spending cuts, which include public sector work force reductions this year.


  • Deficit of $431 million projected for 2012-13
  • Deficit of $564 million forecast for 2013-14
  • Balanced budget predicted for 2015-16
  • No personal or corporate tax increases
Download our full budget report
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