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Newfoundland and Labrador need public investment, not cuts

St. John’s – It is public investment – not cuts – that Newfoundland Labrador needs to weather the storm created by the dramatic drop in global oil prices. That’s the message CUPE NL has given the premier and his finance minister in its 2016 budget submission.

CUPE NL President Wayne Lucas says,” As Federal Finance Minister Bill Morneau, also a Liberal, has said, the right approach is to invest in the economy. And voters in this province gave the Trudeau Liberals a clean sweep in our province in last year’s federal election – on a platform of deficit financing.”

Lucas says, “CUPE supports the development of vibrant, healthy communities and strong local economies. A provincial budget that invests in people and public services is key to realizing this goal.”

Other highlights of the CUPE submission include:

  • Public sector employment is at a record low in Newfoundland Labrador
  • Public services are terrific value
  • Investments in childcare grow the economy and the labour force
  • P3s (public private partnerships) increase costs
  • Increased revenues can be generated through the tax system
  • NL needs federal government action to support the health care system

Adds Lucas, “If the premier really wants to help the economy he should spend money on early childhood education. Economists will tell you that spending on child care is the big multiplier.  For every $1 million that the province spends on childcare, estimates are that we will see over $2 million in GDP growth.”

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