The Canadian Taxpayers Federation released its Finance Minister Report Card today, ranking provincial finance ministers on spending, debt and tax relief in the latest provincial budgets.

Newfoundland and Labrador Finance Minister Siobhan Coady received an overall grade of F, tied for lowest in the country.

“Coady again broke her promise to stop racking up government debt and put taxpayers on the hook for even more irresponsible borrowing,” said Devin Drover, CTF Atlantic Director. “Newfoundland and Labrador families have to live within their means, but the provincial government keeps taking out huge irresponsible loans.”

Coady received the following grades in each category:

Debt: F

• The government of Newfoundland and Labrador is increasing the debt by $1.6 billion this year. The total provincial debt will reach $19.4 billion by the end of the year, or about $35,649 per person, the highest in the country. Last year, former premier Andrew Furey promised the government would stop increasing the debt. He broke that promise in Budget 2025.

Debt interest payments: F

• Debt interest payments will cost Newfoundlanders and Labradorians $1.1 billion this year, that works out to about $2,087 per person, again, the highest in the country.

Spending Increase: C

• The government is spending about 5.7 per cent more this year compared to last year’s budget. That’s the third lowest increase in the country.

Tax Relief: D

• The budget provides no tax relief.

“Newfoundlanders and Labradorians are being saddled with the highest debt interest payments in the country and it needs to stop,” Drover said. “Coady needs to reign in spending and stop irresponsibly piling more debt onto provincial taxpayers.”

Overall ranking of provincial finance ministers:

You can find the full report card HERE.