News Ebene – CA – NL the government may not be able to pay its employees, according to an economic report

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Economic report that targets Newfoundland and Labrador’s public sector costs says government may not be able to pay employees

Long-awaited report from the premier’s economic stimulus team makes sweeping recommendations for the province to correct its course as it heads for bankruptcy

The report, titled Big Reset, calls on the government to dismantle Nalcor Energy, the provincial energy company, and create a fund fueled by offshore oil revenues to be used to pay off debt and finance the transition to an economy green

Moya Greene, a street John’s businesswoman, who ran the UK Postal Service and chairs the Economic Recovery Team, delivered the report today from her UK home

She says the government must reassess its contracts with public sector unions and apply ministry budgets, citing an “unfunded liability” of $ 8 billion for pensions and other upcoming payments

Report says Newfoundland and Labrador has the highest per capita income, expenditure, deficit and net debt of any province in Canada

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Moya Greene, Newfoundland and Labrador, Finance

Ebene News – CA – NL government may not be able to pay employees, economic report says

Source: https://www.theglobeandmail.com/canada/article-long-awaited-nl-financial-report-set-to-be-released-today/