ST. JOHN’S, NL: The Canadian Taxpayers Federation is calling on Premier Tony Wakeham to provide relief for Newfoundlanders and Labradorians by cutting taxes and eliminating wasteful government spending. These recommendations form the foundation of the CTF’s 2026 pre-budget submission for Newfoundland and Labrador.

“The best thing the Wakeham government can do for families is leave more money in their pockets and stop wasting what taxpayers already send to government,” said Devin Drover, CTF Atlantic Director. “That means cutting income, sales and business taxes and making the gas tax cut permanent.”

The CTF is calling on the government to increase the basic personal income tax exemption to $15,000, which would allow workers to earn more before paying provincial income tax and deliver roughly $93 million in annual tax relief.

The CTF also calls for making the seven-cent-per-litre gas tax cut permanent as well as cutting the sales tax by one percentage point.

Beyond individual tax relief, the CTF’s plan also recommends replacing corporate subsidies with broad-based business tax cuts, bringing government compensation in line with Newfoundland and Labrador’s labour market and implementing spending reduction measures outlined in the Premier’s Economy Recovery Team report.

“These measures will stop reckless borrowing and save taxpayers millions in debt interest charges,” said Drover. “Right now, Newfoundlanders and Labradorians are on the hook for a staggering $1.2 billion every year in interest charges on the provincial debt. That’s money that could be going to health care, roads or tax relief instead of going to bankers and bondholders.

“Wakeham must use his first budget to reverse course, rein in wasteful spending and give taxpayers a break.”

The CTF’s full pre-budget submission can be viewed HERE.