Newfoundland Will Send Seniors Up to $500. It Will Not Cut Prices.

On Monday, November 2, Newfoundland and Labrador said seniors will get a one-time cost-of-living cheque in December. People 65 and older with individual income of $75,000 or less are due $500. The amount falls by $80 for every extra $5,000 of income, and it is $100 for someone earning $100,000. Income above $100,000 gets no payment.

Premier Tony Wakeham said the test uses individual income, not household income, so two qualifying seniors in one home can each be paid. The province put the cost at more than $64 million for more than 130,000 people. Finance Minister Craig Pardy linked the room for relief to higher oil revenue: 80 percent of the extra money is aimed at debt, and 20 percent at affordability measures. He said that affordability share is not used up. The cheque does not change a posted gasoline price, a power rate, or a grocery price.

Does the December cheque lower a Newfoundland fuel or grocery price now? No price cut was announced. The new fact is a one-time December payment of $100 to $500, based on individual income, for seniors at or below $100,000.