Business Breaking News

The Canadian Press - ONLINE EDITION

Newfoundland and Labrador to maintain "have" position despite deficit:economist

By: The Canadian Press

Monday, Mar. 4, 2013 at 8:01 AM | Comments: 0

The boat-lined harbor in St. John's N.L. is the backdrop for a hiker on Signal Hill on August 10, 2007. THE CANADIAN PRESS/Jonathan Hayward

ST. JOHN'S, N.L. - A senior policy advisor says he expects Newfoundland and Labrador to continue as a so-called have province for at least the next 20 years despite the looming deficit.

Wade Locke, an economist advising the province on the budget, says without change the current deficit trend will persist.

He also says with projects like Hebron, Vale and Muskrat Falls waiting in the wings and an aging workforce, labour will have to be imported in order to fill jobs.

However, Locke says wages will eventually be in line with Alberta's and enhanced mining activity will help with the financial pressures from high debt levels and increasing health care costs.

Locke says the province will continue to benefit from revenues generated by natural resources.

(VOCM)

Rate this
This article has not yet been rated.

We want you to tell us what you think of our articles. If the story moves you, compels you to act or tells you something you didn’t know, mark it high. If you thought it was well written, do the same. If it doesn’t meet your standards, mark it accordingly.

You can also register and/or login to the site and join the conversation by leaving a comment.

Rate it yourself by rolling over the stars and clicking when you reach your desired rating. We want you to tell us what you think of our articles. If the story moves you, compels you to act or tells you something you didn’t know, mark it high.

Sort by: Newest to Oldest | Oldest to Newest | Most Popular 0 Comments

You can comment on most stories on brandonsun.com. You can also agree or disagree with other comments. All you need to do is register and/or login and you can join the conversation and give your feedback.

There are no comments at the moment. Be the first to post a comment below.

Post Your Comment

The Brandon Sun does not necessarily endorse any of the views posted. Comments are moderated before publication. By submitting your comment, you agree to our Terms and Conditions. New to commenting? Check out our Frequently Asked Questions.