Report card · Fall 2026
Newfoundland and Labrador
Fiscal year 2025-26. The short version first, then every figure behind it, from the government's audited public accounts.
The short version
In 2025-26, Newfoundland and Labrador spent $11.5 billion, about $20,794 for every resident. That was 3.9% more than it planned.
It ended the year with a deficit of $378 million, worse than the deficit of $372 million it had planned.
Its independent auditor (Auditor General of Newfoundland and Labrador) signed off on the accounts without reservation.
The audited results came out 199 days after the year ended.
What it means per person
Newfoundland and Labrador's totals divided by its population of 551,526 on October 1, 2025 (Statistics Canada). This is not a tax bill: every Canadian pays for federal and provincial or territorial government at the same time, and some of this money comes from other governments.
- Spent $20,794 per resident, on services, programs and transfers
- Collected $20,110 per resident, in taxes, transfers and other revenue
- Paid in interest $2,149 per resident, about 11¢ of every revenue dollar
- Net debt $34,477 per resident, what it owes, less its financial assets
Where every dollar went
Of every dollar Newfoundland and Labrador spent in 2025-26, as the government groups its spending.
- 71¢ Social Sector
- 23¢ General Government Sector and Legislative Branch
- 6¢ Resource Sector
What went off plan
The areas furthest from their budget, in dollars. Going over isn't automatically bad (an emergency or a program added during the year can be the reason), and coming in under can mean delayed work.
Over budget
- Social Sector +$584 million (7.8%)
Under budget
- General Government Sector and Legislative Branch −$147 million (−5.3%)
Context from the documents
- The province's news release says the Public Accounts were released ahead of the November 1 deadline set in law.
Questions worth asking
Based only on the figures above. Put them to your MLA, MP or candidates, or to the finance department.
- Spending came in 3.9% over budget. What caused it, and has this year's budget been adjusted to match?
- Social Sector cost $584 million more than budgeted (7.8% over). What was the reason?
- The bottom line was $5.8 million worse than planned. How will the difference be covered?
- The audited results took 199 days to come out. What would it take to publish them sooner?
- Interest on debt took about 11 cents of every dollar of revenue. What is the plan for the debt over the next few years?
Every figure behind this page, exactly as published, with the page it came from.
We extracted these figures from a PDF: Public Accounts: Consolidated Summary Financial Statements for the year ended 31 March 2026. They are shown exactly as published, in thousands of dollars, with the page each one came from. Check them against the official document .
The year in figures
Actual results against the budget printed in the same audited statements. Amounts in thousands of dollars. Debt and accumulated balances are shown as positive amounts; the label says which they are.
| Item | Actual | Budget | Difference | Where we found it |
|---|---|---|---|---|
| Total revenue | 11,091,027 | 10,670,157 | +420,870 +3.9% | Actual: PDF page 72 (printed 67) Budget: PDF page 72 (printed 67) |
| Total expenses | 11,468,574 | 11,041,911 | +426,663 +3.9% | Actual: PDF page 72 (printed 67) Budget: PDF page 72 (printed 67) |
| Annual surplus (deficit) | −377,547 | −371,754 | −5,793 | Actual: PDF page 72 (printed 67) Budget: PDF page 72 (printed 67) |
| Net debt | 19,015,144 | 19,449,134 | −433,990 −2.2% | Actual: PDF page 70 (printed 65) Budget: PDF page 71 (printed 66) |
| Accumulated deficit | 12,422,242 | — | — | Actual: PDF page 70 (printed 65) |
| Interest on debt | 1,185,483 | 1,139,062 | +46,421 +4.1% | Actual: PDF page 130 (printed 125) Budget: PDF page 130 (printed 125) |
Spending by area
Expenses by sector or function, as the government groups them, in thousands of dollars. The thin line marks the budget.
Audit and release
- Auditor
- Auditor General of Newfoundland and Labrador
- Opinion
- Unmodified (clean)
- Audited results released
- October 16, 2026
- Days after year end
- 199
Source documents
We link to the official documents rather than republishing them. We kept a copy of each, as downloaded, so these figures can be re-checked even if a link changes.
Right of reply
No response from Newfoundland and Labrador has been published yet.
Newfoundland and Labrador can respond to this section. We confirm every response by phone before publishing it, then publish it here in full, unedited. If you find an error, tell us through the contact form on our About page. Corrections are noted on the page; figures are never changed silently.
Respond on behalf of Newfoundland and Labrador
Figures collected and checked November 6, 2026.
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