CFIB congratulates newly elected government in Newfoundland and Labrador and looks forward to swift action on small business priorities

St. John’s, NL, October 15, 2025 – The Canadian Federation of Independent Business (CFIB) congratulates premier-designate Tony Wakeham and the newly elected government of Newfoundland and Labrador. CFIB, which represents over 1,700 small and medium-sized businesses across the province, looks forward to working collaboratively with the newly elected government to ensure that the needs and priorities of entrepreneurs remain front and center.

“Small businesses are central to Newfoundland and Labrador’s economic success. With a new mandate, this government has opportunity to strengthen its influence by providing tax relief, addressing red tape, and supporting legislation which will foster greater supports to small businesses,” said Jonathan Galgay, CFIB’s Director of Legislative Affairs for Newfoundland and Labrador.

CFIB members in Newfoundland and Labrador have identified several key priorities for the new government:

• Lowering the small business tax rate to 1% and increasing the small business threshold from $500,000 to $700,000 and indexing the threshold to inflation annually.
• Eliminating the 15% sales tax on insurance.
• Readopting the Regulatory Accountability and Reporting Act and incorporating the Charter of Governing Principles.
• Amending the Towns and Local Service Districts Act and City’s Act to allow municipalities to compensate small businesses affected by construction projects.

CFIB is committed to working with the new government to advance policies that promote growth, sustainability, and opportunity for local businesses.

“By working together, we can create a more competitive, resilient, and vibrant economy that benefits small businesses, their employees, and all Newfoundlanders and Labradorians,” added Galgay.

For media inquiries, please contact:

Jonathan Galgay, CFIB
709-743-6069
Jonathan.galgay@cfib.ca

About CFIB

The Canadian Federation of Independent Business (CFIB) is Canada’s largest association of small- and medium-sized businesses with 100,000 members across every industry and region, including 1,700 in Newfoundland and Labrador. CFIB is dedicated to increasing business owners’ chances of success by driving policy change at all levels of government, providing expert advice and tools, and negotiating exclusive savings. Learn more at cfib.ca.