Fixing the financial crisis in Newfoundland and Labrador

A crippling financial crisis in Newfoundland and Labrador has Premier Andrew Furey considering his options, in a plan the provincial government is calling the “Big Reset.”

Even for a province that’s endured a series of economic collapses, including the cod moratorium, this crisis hits hard. It’s the result of a big increase in government spending when oil prices were high, followed by the crash in oil prices, and then, the pandemic.

As Ross Lord reports in part two of our series, Newfoundlanders are struggling to foresee a solution that doesn’t cause more pain.

#Newfoundland #GlobalNews

[Lynx]

Yet they will still vote Liberal. Vote for a Federal Government that does not care about them. Crazy,

[hannahsmith]

I love your video at large but I will advice everybody who is into cryptos to stick with ETH and BTC as much as you can guys....if everyone sell when it starts to fall, which at one point it will, the dream may be lost because of it been too volatile for companies to get behind..

[mcscotty]

It's the same old song and dance with Newfoundland. Decade after decade. That place will never change. Get out while you're young and don't look back.

[puffkat]

It is simple, since joining confederation in 1949, Newfoundlands resources have been exploited and used until gone or destroyed, so trade our resources for jobs for a few years, when they are gone, get screwed yet again. We had paper mills, lumber and farming, now we import all those. All the fish, we are surrounded by fish yet it is so expensive to have a traditional meal. So keep up Newfoundland, trade your resources for a quick job and have nothing in 10 years, no resources and no more jobs. Sound familar. Your kids will have to home to find work, same as past 50 years.

[tycom]

To my Canadian brothers and sisters living in the east: Please vote PPC

LPC has ruined Canada.

[mikedennington]

All these small provinces should be amalgamated into one to achieve cost savings and cut the stupidity of the administration of small areas which do not make sense at all. Still be smaller than BC in area.

[kaykavanagh]

A BIG For Sale sign to go up and have a Foreign Country purchase it....they'd be better off...I've lived there once - absolutely nothing to offer!

[ghostband]

Just hold on a few more decades, Trudeau said green jobs are coming.

[jaysen]

Here is a thought quit voting for communism . Maybe get off the pogey and work

[jeanpaulfelix]

newfoundland is in the same boat every other province is. decades of over spending..bloated governments at all levels that dont really do much...as a result the debt has exploded. The solution will work itself out through hyperinflation. Bucket up.

[bounce]

We are all not in the same spot. A major percentage of people are hungry. I also say the majority has the power to change things but Newfoundlanders are to gullible. Why do the majority starve and the rich get richer there kids are sheltered from it while we all continue to play follow the followers? The mental health of these families who are hungry will continue to struggle when the fog clears. The children of these households will never forget the stress and anxiety that they have been thru. But politicians get a substantial retirement package with outlandish salaries to. I don’t hear of any pay cuts for the people that continue to run Newfoundland into the ground tho!! Take from the middle class and give less to the poor then tax breaks for the rich!! Lmfao the brave men and women who gave there lives to protect our future’s were better off letting the Germans in and just existing. Same as now Newfoundland should be a very rich province but they continue to sell our natural resources for chump change!! I’m with Quebec let’s separate from Canada. God bless Newfoundland/Labrador and Ireland

[TheShpmusic]

Well the 23rd prime minister legalize Marijuana before affordable living what you expect, with more Lcbo stores and Marijuana shops on the rise you expect Change!! Health is declining in 🇨🇦.

[derek]

Maybe they should consider working more than 4 months a year

[Allie]

Mr Milton is legit and his method works like magic, I keep on earning every week with his new strategy

[sandymc]

watch bombshell testimony at newsrescue FDA hearings!

[patbrennan]

They should have become a state back in 1948, that way all their resources would have been protected by Uncle Sam. Canada was looking for a welfare province so they fixed the votes to have NL join confederation. Canada don't NL anymore welfare provinces now because they have nine others.