LISTEN: Federal investment flows to Atlantic Canada’s cruise and food sectors, Prince Edward Island’s Auditor General warns of an unsustainable deficit, and Newfoundland and Labrador moves to restructure its Future Fund.

This week on the Atlantic Canada Business Report, host Peter McCully covers federal investment in the cruise and food industries, a major wind energy approval in Nova Scotia, New Brunswick’s economic growth strategy, a record deficit warning in Prince Edward Island, and restructuring legislation for Newfoundland and Labrador’s Future Fund. The Atlantic Canada Opportunities Agency is backing the Atlantic Canada Cruise Association with more than $350,000 for a three-year plan covering more than 20 ports across all four Atlantic provinces, and is sending 18 food and beverage companies to SIAL Canada, the country’s largest food trade show. A new retrofit partnership will help building owners across the region reduce carbon emissions and modernize aging facilities.

Nova Scotia Tourism reported $3.7 billion in revenue in 2025, up 8% from the prior year. In New Brunswick, Premier Susan Holt traveled to Ottawa to promote the province’s energy and trade assets, while the government launched an economic development strategy targeting 10% provincial growth by 2030. In Prince Edward Island, the Auditor General issued a stark warning after the province tabled a record $410 million deficit budget. In Newfoundland and Labrador, Irving Oil has filed a second application to ship crude via foreign-flag tankers from Placentia Bay to Saint John, and Bill 9 would restructure the province’s Future Fund by removing mandatory annual contributions.

Highlights:

Atlantic Canada

The Atlantic Canada Opportunities Agency is investing more than $350,000 in the Atlantic Canada Cruise Association to fund a three-year strategic plan supporting marketing, cruise line relationships, and business development.

Nova Scotia

The Upper Afton Wind Project in eastern Nova Scotia has received provincial environmental assessment approval. Co-owned by Membertou Development and Ever Wind, the project will generate 176 megawatts and create up to 250 construction jobs.

New Brunswick

New Brunswick Premier Susan Holt traveled to Ottawa to promote the province’s energy assets, ports, and project potential to Prime Minister Mark Carney and business leaders.

Prince Edward Island

Prince Edward Island’s Auditor General has issued a stark warning following the province’s record $410 million deficit budget.

Newfoundland and Labrador

The Newfoundland and Labrador government has introduced legislation to restructure the province’s Future Fund, which holds more than $500 million.

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LISTEN: A new regional construction alliance forms across Atlantic Canada, PEI tables its largest deficit in provincial history, Maritime lobster markets recover after China’s tariff reversal, and a snow crab pricing deal ends a two-week standoff in Newfoundland and Labrador.

This week on the Atlantic Canada Business Report, host Peter McCully covers regional labour markets, a new construction industry alliance, fishery pricing developments, a record provincial deficit, a long-term care strike, and a federal fuel tax suspension. Labour market data shows Atlantic Canada entering the second quarter with gains in all four provinces — Nova Scotia up 3,900 jobs, New Brunswick at a year-over-year high of 9,000, Prince Edward Island adding 2,600, and Newfoundland and Labrador growing 2% year over year. Eight provincial construction associations have united to form the Atlantic Construction Alliance, representing more than 100,000 contractors, tradespeople, and suppliers, with a mandate to improve procurement, labour mobility, and housing delivery across the region.

Maritime lobster harvesters are heading into spring with improved pricing expectations following the removal of China’s 25% tariff on Canadian seafood, though rising fuel and bait costs are squeezing margins. In Newfoundland and Labrador, the Fish Food and Allied Workers Union and the Association of Seafood Producers reached a snow crab pricing agreement, ending a two-week dispute that delayed the 2026 season opening. Prince Edward Island tabled its 2026–27 operating budget projecting a $410 million deficit — the largest in the province’s history. In Nova Scotia, more than 2,200 long-term care workers are on strike across 25 facilities. Ottawa has also announced a temporary suspension of the federal fuel excise tax from April 20th to September 7th.

Highlights:

Atlantic Canada - Eight provincial construction associations have joined to form the Atlantic Construction Alliance, a new regional body representing more than 100,000 contractors, tradespeople, and suppliers. The alliance will advocate for fairer procurement, improved labour mobility, stronger workforce development, and accelerated housing delivery.

Nova Scotia - More than 2,200 workers across 25 long-term care homes are on strike, seeking a $5/hour wage increase across all classifications. Workers include continuing care assistants, licensed practical nurses, and support service staff such as dietary and laundry employees.

New Brunswick - The New Brunswick government has reached a tentative agreement with more than 3,500 public service workers, covering 11 bargaining units now consolidated into one master agreement. Full details are being withheld pending ratification.

Prince Edward Island - PEI has tabled its 2026–27 operating budget projecting revenues of $3.4 billion against spending of $3.8 billion — a $410 million deficit, the largest in the province’s history and the largest relative to GDP of any province in Canada.

Newfoundland and Labrador - The Fish Food and Allied Workers Union and the Association of Seafood Producers have reached a snow crab pricing agreement, ending a two-week standoff. Harvesters received $6/pound through April 18th, adjusting to $5.75/pound thereafter, with prices tied to weekly markets.

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LISTEN: A new report projects Atlantic Canada will need 441,000 workers over the next decade, grocery prices climb sharply across the Maritimes, and two Atlantic provinces prepare to table their provincial budgets

This week on the Atlantic Canada Business Report, host Peter McCully covers workforce projections, cost-of-living pressures, legislative milestones, and fiscal developments across all four Atlantic provinces. A Public Policy Forum report projects the region will need to fill 441,000 jobs between 2025 and 2035, with immigration identified as the primary driver of recent youth workforce growth. Statistics Canada data shows grocery prices rose 5.7% in February year-over-year, with whole chicken, beef, and coffee among the sharpest increases. Atlantic Canadians cite rising costs and healthcare as their top concerns.

Nova Scotia's spring legislative session concluded after a record 27 sitting days, with the 2026–27 budget and the Powering the Economy Act both passing. New Brunswick launched its wildfire season ahead of schedule following a dry winter. Prince Edward Island's fuel price regulator is reviewing its pricing formula after pump prices hit $1.98 per litre. In Newfoundland and Labrador, the Valentine Gold Mine posted a strong first quarter, Marble Mountain concluded a standout ski season, and the province's first budget under Premier Wakeham is expected after Easter recess.

Highlights:

Atlantic Canada - A Public Policy Forum report projects Atlantic Canada will need to fill 441,000 jobs between 2025 and 2035, with roughly 265,000 representing replacement roles. Recent youth workforce growth has been driven almost entirely by immigrants and international students.

Nova Scotia - Nova Scotia's spring legislative sitting concluded after a record 27 days — the longest session since 2018. The 2026–27 budget passed with a projected $1.24 billion deficit, including measures to hold the small business tax rate at 1.5%.

New Brunswick - New Brunswick has launched its wildfire season ahead of schedule following a winter with record low precipitation. The province is investing $6.7 million to strengthen response capacity, converting 74 seasonal forest ranger positions into year-round roles.

Prince Edward Island - Premier Rob Lantz has confirmed the Island Regulatory and Appeals Commission is reviewing its gasoline pricing formula after pump prices reached $1.98 per litre — an increase of nearly 35% since the Middle East conflict began.

Newfoundland and Labrador - Finance Minister Craig Pardy is preparing to table Newfoundland and Labrador's first budget under Premier Wakeham's government, with the deficit for the closing fiscal year projected at $948 million and net debt approaching $19.9 billion.

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