Letter sent to Honourable Andrew Furey, Premier of Newfoundland and Labrador

August 31, 2020
 
Honourable Andrew Furey
Premier of Newfoundland and Labrador
Confederation Building, East Block
P.O. Box 8700
St. John’s, NL
A1B 4J6
 
Via email:  premier@gov.nl.ca
 
 
Dear Premier Furey,
 
On behalf of our member chambers representing 21 communities and more than 3,000 businesses across Newfoundland and Labrador, the Atlantic Chamber of Commerce wishes to convey our congratulations to you upon assuming the role of Premier of Newfoundland and Labrador. At the same time, we want to offer the power of our network by providing insights into how government and businesses can collaborate on our mutual goal of addressing the issues facing Newfoundland and Labrador.
 
Newfoundland and Labrador has enormous potential and resiliency, but is facing an economic calamity brought on by a global pandemic, the fall of oil revenues, a significant debt burden, and uncertainty of power rates. The Atlantic Chamber of Commerce recently launched our new insight community Atlantic IMPRESSIONS. This exclusive digital insight community enables us to consult and yield critical insight data in near real time. Using advanced technology, we have an unparalleled ability to harness participation and feedback from the Atlantic Canadian business community. Atlantic IMPRESSIONS is a growing community of CEOs, executives, leaders, entrepreneurs, business owners, and professionals from urban and rural communities in all sectors across Atlantic Canada. 
 
In a recent outreach to the insight community, we asked Newfoundland and Labradorian members about their concerns and what areas the government should focus efforts to improve the province’s financial situation. The majority revealed equivalent concerns (71%) with power rates, debt and deficit reduction, and economic development; followed closely with equal concerns (59%) about taxes, public sector reform, and jobs. Similarly, the majority believe as Premier, your Government’s focus should be on economic development (71%), budget cuts (59%) and creating efficiencies through technological advances (59%) to improve the province’s fiscal situation. Interestingly, we also learned that just over half (53%) believe Government officials care about their views and the Atlantic Chamber is pleased to continue to share these timely insights as the voice of business.
 
Premier, the importance of a robust economy is critical to Newfoundland and Labrador and the Atlantic Chamber is pleased to see the commitment you have made to economic recovery as we move forward. The business community within the province recognizes that the debt of $14.2 billion as of June 2020, is a monumental—but not impossible – task. For years, the Government of Newfoundland and Labrador has had an expenditure problem, not a revenue problem. With the upcoming budget it will be important to examine all spending measures closely to determine areas where expenditures can be reduced and where efficiencies can be created by levering advances in technology.
 
Newfoundland and Labrador faces challenges ahead but also has great potential with further offshore exploration, a dynamic tourism industry, and a resilient private sector. The Atlantic Chamber looks forward to working with you and would like to meet with you when your schedule allows time to further discuss the data from our insight community and the road ahead for business in Newfoundland and Labrador.
 
Sincerely,
 
Sheri Somerville
 
Chief Executive Officer, 
Atlantic Chamber of Commerce