Opposition parties say Liberal government's economic update is a byelection ploy

While the Andrew Furey Liberals are celebrating what they call an improved economy, opposition leaders say the unusual midsummer fiscal update is timed to coincide with some voters soon going to the polls.

"[There] must be a byelection on," said NDP Leader Jim Dinn with a laugh, after Finance Minister Siobhan Coady's news conference Wednesday.

Coady touted several economic statistics including how, compared with last year, the employment rate is up almost four per cent, retail sales are up by five per cent, car sales are up almost 23 per cent and housing starts have more than doubled. The news conference comes ahead of a byelection in the Waterford Valley district for a seat previously occupied by Liberal MHA Tom Osborne. 

"Newfoundland and Labrador's economy has done very, very well. It's showed really good strength and growth this year," Coady said. 

But members of the opposition don't agree. 

"People of the province are hurting," said PC Leader Tony Wakeham. "Let's face it, there's a byelection called in Waterford Valley, and this is in direct relationship to that byelection."

Wakeham said the Liberal government likes to make announcements but not enact any meaningful changes. 

"Where are the strategies? Where are the long-term plans when it comes to health care, when it comes to education, when it comes to the cost of living?" Wakeham said.

When asked what strategy his party would use to combat the cost-of-living crisis, Wakeham criticized the Liberal government for abandoning PC government ideas.

"I'm talking about a new poverty reduction strategy right off the bat that we ought to be working on," Wakeham said, though didn't provide any details as to what that strategy would be.  

Dinn said he isn't convinced the province's economy is in good shape. 

"I'll know if it's working when people are no longer calling our office seeking help with finding housing, when they're no longer calling our office asking for help getting home care that their loved ones need," he said. 

"Until those things happen, then I am going to be skeptical about anything that the minister of finance says."

When pressed on how the economy can be considered good when seemingly so many are in need, Coady said investments are the way forward. 

"A good economy helps us be able to have the monies available so that we can invest in helping those most vulnerable," Coady said. 

As for the timing of her economic update, Coady repeatedly described what time of year it is. 

"It's time because it is midsummer. It is midsummer, and we've just had our numbers coming out for the end of June. There is a byelection coming up, but I can tell you that this is about giving you an update to the people of the province," she said." 

"I've heard a lot of negativity about the economy in Newfoundland and Labrador. I'm here to tell you that it is strong and we are doing very, very well."

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