NL’s Auditor General says while the deficit was $377.6M last year, our net debt rose more than 3 percent to $19B. Denise Hanrahan says that’s concerning and the province continues to spend beyond our means. She says there’s only 550K people in NL which is just under $35K each that we owe.
This week, the AG issued what’s known as an “unqualified (or clean) audit on the province’s financial statements for 2025-26. Hanrahan will release an information report in the coming weeks to help people understand the financials, which can be overwhelming for some people
Early next year, the AG will deliver an audit report on the 2026 financial statement where she will address instances of fraud, as well as performance audits on telehealth, the College of the North Atlantic, monitoring of past audit reports, and more.
Hanrahan suggests that people read a report called ‘Understanding the Financial Health of the Province of Newfoundland and Labrador.” It provides details on the deficit of $378 million, net debt of $19 billion, and total liabilities of $36 billion.
