The Canadian Taxpayers Federation is applauding the Furey government for extending its gas tax relief for another year, while expressing disappointment with the government’s return to deficit spending.

“The gas tax relief announced by the Furey government is great news for Newfoundlanders and Labradorians,” said CTF interim Atlantic Director Jay Goldberg. “This gas tax cut of seven cents per litre will save families hundreds of dollars over the next year.”

Budget 2023 returns the province to the red after Newfoundland and Labrador projected a surplus of $784 million in 2022-23. This year’s projected deficit is $160 million. The government expects to balance the budget by 2024-25.

“It’s disappointing to see the province go right back into deficit after finally balancing the books,” said Goldberg. “More debt means more interest payments for our kids and grandkids and less money to pay for essential services and lower taxes.”

The government expects revenue to be $9.7 billion in 2023-24. Spending is expected to be $9.8 billion.