May 3, 2017

Newfoundland and Labrador Acknowledged for Improvements in C.D. Howe Financial Report Card

In a report by the C.D Howe Institute this week that assesses the quality of various government’s financial information and their success or failure in achieving budgetary goals, the Government of Newfoundland and Labrador scored a B grade for 2017 – up from an E grade in 2016 and a D grade in 2015. The report looks at the relevance, accessibility, timeliness and reliability of government’s financial reports across the country.

C.D. Howe stated in the report that Newfoundland and Labrador has improved markedly, and particularly with the quality and timeliness of its budget and public accounts documents. The report assesses whether individuals can get valid, timely and readily understood figures for total revenue and spending in the budget each government presents at the beginning of the year, and in the public accounts at the end of the year.

“We are very pleased with the improvements in the financial reporting of our government. Progressing from an E grade to a B in this C.D Howe report in one year is a great accomplishment and one in which we are very proud. We are continuously working to improve on how we present financial information to the people of this province – as was evident with the tabling of Public Accounts last fall – the earliest time the Public Accounts has been tabled in 18 years. Our government will continue with our path of strong fiscal management and return to surplus in 2022-23.”
Honourable Cathy Bennett
Minister of Finance and President of Treasury Board

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C.D Howe Institute Report – external link

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Tansy Mundon
709-729-6830, 693-1865

2017 05 03                              9:00 a.m.