Amendment to the Atlantic Accord coming today

    Tuesday, 30 May 2023 07:00

    By Tonya Organ

    A technical briefing will take place for the media this afternoon

    The feds will introduce an amendment to the Atlantic Accord today, an agreement that once caused a lot of turmoil over oil and led us to being a “have” province instead of “have not.” The accord was signed in 1985 to give Newfoundland Labrador more profit from offshore oil. However, in 2003, a report revealed this province was only getting 15 to 20 percent of the oil revenue, even though the initial accord stated it would be 100 percent. So, in  2005, then  Premier Danny Williams got a $2 billion dollar cheque from Ottawa after he called to have all Canadian flags removed from provincial government buildings. In 2019, then Premier Dwight Ball renegotiated terms of the accord to $2.5 billion, to be paid out in installments until 2056, with 60 percent of that money coming to the province before 2030. This afternoon, officials from Natural Resources Canada will hold a technical briefing for members of the media. After that, Minister Wilkinson, along with Seamus O’Regan, Federal Minister of Labour; and other officials will speak to the media. 

    To report an error, submit a news tip, or provide feedback, please e-mail news@bayfm.ca or call (709) 637-0183.

    More from Local News

     

     

     

    BayFM recognizes support from the following agencies:

                        

    Today's Weather

    • Corner Brook

      Sunny intervals

      High: 28°C | Low: 12°C

    • Deer Lake

      Sunny intervals

      High: 29°C | Low: 11°C

    Recently Played

    Podcasts

    • BayFM On-Demand

      International Shriner's Awareness Day

      International Shriner's Awareness Day on Friday June 6

    • Qalipu Today

      Qalipu Today, Tuesday June 3, 2025

      On this edition of Qalipu Today on Bay Fm we look ahead to the 4th Annual Elmastukwek Mawio’mi, happening August 8 to 10 in Corner Brook.

    • Sunday Night Geek

      Sunday Night Geeks, June 1 2025

      Sunday Night Geeks, June 1 2025