Fixing finances a challenge in Newfoundland and Labrador

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Global News published this video item, entitled “Fixing finances a challenge in Newfoundland and Labrador” – below is their description.

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.

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Global News is the news and current affairs division of the Canadian Global Television Network, based in Vancouver, Canada.

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