Board of Trade Encouraged by Churchill River MOU Negotiation Progress
The Board of Trade is pleased to learn of the significant progress that has been made towards the finalization of the Churchill River Memorandum of Understanding (MOU) with Québec.
This project is critically important to our province’s current and future prosperity. It holds the potential to position us as a leader in clean energy while addressing our provincial and national energy needs, driving investment and creating jobs. With mounting provincial debt, a growing deficit and the increasing need for more power, it is imperative that Newfoundland and Labrador develop, leverage and benefit from our natural resources. A solid deal with Québec will help ensure fiscal stability, power availability and economic growth.
The significant progress on the MOU that is being reported is welcomed news. Advancing the development of Churchill Falls is in the best interest of both provinces as well as Canada as a whole. The movement towards a final agreement reflects the commitment of both jurisdictions to achieve a fair and mutually beneficial agreement, and the willingness to re-engage in a productive negotiation.
The Board of Trade remains concerned about the cost, uncertainty and risk associated with a possible referendum on the MOU. We continue to urge Premier Wakeham to employ alternative approaches to public engagement and education that keep Newfoundlanders and Labradorians informed on developments. Our province benefits from being represented by a negotiating team that includes broad expertise and perspective. This team is well positioned to navigate the negotiations and finalize a solid agreement: one that is in the best interest of Newfoundlanders and Labradorians.
Transparency is an important part of this process, and we ask Premier Wakeham to share the details of the deal publicly as soon as possible. We look forward to reviewing the details of the deal and to learn more about what the future of the project may hold.
Media Contact
Kirsten Butler
Manager, Advocacy and Policy
kbutler@bot.nf.ca | 587-334-0090
