AAAE Webinar: NL Debt, Fiscal Sustainability and the Churchill Falls MOU Initiatives
NL has the highest per capita fiscal capacity, the highest capacity natural resource endowments, the highest per capita expenditure and the highest net debt per capita. With the development of additional large natural resource projects such as the four initiatives being negotiated in the recent Churchill Falls MOU, the additional revenue flowing to the provincial treasury and NL Hydro has been touted as potentially transforming the economy so that provincial deficits will be eliminated, becoming an interesting historical footnote only. This presentation will examine the provincial debt, fiscal sustainability and the potential contribution of the new and expanded resource developments to mitigating provincial debt and facilitating fiscal sustainability.

Doug May is an Honorary Research Professor at Memorial University. He started his long research career by examining the impact of corporate tax incentives on investment in Canadian manufacturing industries. His interests then turned to measuring productivity change and modelling production processes. Over time, his research interests expanded into labour market dynamics, income inequality, community well-being, and the ongoing transition of the Newfoundland and Labrador economy.
Doug is a member of the Macroeconomic Accounts Advisory Committee of Statistics Canada.

Dr. Leonard Wade Locke is retired as a Full Professor of Economics at Memorial University of Newfoundland and was the Academic Head for the Department of Economics, Memorial University. He specializes in the Newfoundland and Labrador economy, resource economics, public finance, public policy, innovation indicators, productivity, economic impact assessment and cost-benefit analysis. He has published extensively in a variety of public policy fields. In addition, Dr. Locke has provided his professional services to all three levels of government, to foreign governments and to national, local, regional and international businesses. He has served as an expert commentator and analyst to the local, national and international media. His research has had a major impact on public policy, particularly on the public finance of the Province of Newfoundland and Labrador and the development of its oil and gas resources
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Online (Microsoft Teams) Apr 15, 2025 12:00 pm - 1:00 pm ASTEvent Registration
Public Attendee List
- Ian Donegan
- Monique Campbell
- Rebekah Young
- Almos Tassonyi
- Viktor Cicman
- Narendra Budhia
- Daniel Tingskou
- Daniel Tingskou
- Colin Betts
- Mitch Villeneuve
- Alex Ciappara
- John Hoicka
- Farzana Shaheen
- Ryan MacLeod
- Kevin MacLean
- David Amirault
- Laura Gu
- Daniel Moore
- Eliza-Jane Stringer
- Alexander Vanderhoof
- Peter Harrison