Departmental Responsibilities
STRUCTURE:
- The Department has three branches - Taxation and Fiscal Policy; Debt
Management and Pensions; and Economics and Statistics. Divisions of Taxation
and Fiscal Policy are Fiscal Policy; Tax Policy, Tax Administration;
and Project Analysis. Divisions of Debt
Management and Pensions are Debt Management; and Pensions
Administration. Divisions of Economics
and Statistics are Economic Research and Analysis; and Newfoundland
& Labrador Statistics Agency.
Taxation and Fiscal Policy Branch
- Assessing and development of overall fiscal and taxation policies for the province;
- Forecasting, monitoring and analysis of the province’s current account revenues;
- Negotiating and administering federal/provincial fiscal arrangements;
- Monitoring and advising the Executive Council on the fiscal and economic policies of
other governments;
- Reviewing and rationalization of provincial taxation and exemption policies;
- Analysing and recommending new taxation options;
- Assessing the impact of federal taxation initiatives and monitoring tax related
developments in other jurisdictions;
- Administering tax laws, credits and refund programs; and
- Providing centralized financial and economic impact analysis.
Debt Management and Pensions Branch
- Coordinating and implementing all financial and administration functions of the province's
loan guarantee programs;
- Administering the annual capital markets borrowing program;
- Servicing the direct debt of the province and managing the financial risk associated with
the portfolio;
- Managing the province’s treasury bill program, short term investments and sinking fund
operations;
- Administering several crown corporations, the most significant being Newfoundland
Municipal Financing Corporation;
- Administering and enforcing the Pension Benefits Act which provides minimum standards
for all public and private pension plans in the province;
- Administering pension plans which participate in the Newfoundland Pooled Pension Fund; and
- Delivering pre-retirement counseling, plan information seminars and employer workshops.
Economics and Statistics Branch
-
Providing a range of economic and statistical services, mainly to
government but also to the private sector;
-
Advising government on matters relating to macroeconomic analysis,
forecasting and project impact analysis;
-
Collecting, analyzing, and disseminating a wide range of economic,
social, and demographic statistics and advising government on matters
relating to statistical information, survey techniques and micro-data
development;
-
Supervising the administration of the Statistics Agency Act and
matters arising under the Act; and
-
Performing as the official statistical focal point of Government for
Statistics Canada.
ASSOCIATED BOARDS, COMMISSIONS AND AGENCIES:
|
Back to Department Profile
