Newfoundland and Labrador’s Finance Minister delivered the province’s 2025 budget on April 9, 2025. The budget anticipates a deficit of $252 million for 2024-25 and projects a deficit of $372 million for 2025-26 and a surplus of $96 million for 2026-27. The budget includes a $200 million contingency fund to address the economic impacts associated with the uncertainty of U.S. tariffs and associated counter tariffs. The budget does not include any new changes to the corporate or personal income tax rates. However, it announced that the eligibility threshold for the Seniors’ Benefit will be indexed to the consumer price index.
