{"id":863055,"date":"2026-08-18T23:20:15","date_gmt":"2026-08-18T23:20:15","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/863055\/"},"modified":"2026-08-18T23:20:15","modified_gmt":"2026-08-18T23:20:15","slug":"wakeham-defends-removal-of-2-per-cent-escalation-clause-from-new-churchill-falls-deal","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/863055\/","title":{"rendered":"Wakeham Defends Removal of 2 Per Cent Escalation Clause from New Churchill Falls Deal"},"content":{"rendered":"<p>\t\t\t\t&#13;<\/p>\n<p>\t\t\t\t<img decoding=\"async\" src=\"https:\/\/www.newsbeep.com\/ca\/wp-content\/uploads\/2026\/08\/qc-premier-christine-frechette-nl-premier-tony-wakeham-prime-minister-mark-carney-churchill-falls-an.jpeg\" class=\"header-image\" alt=\"Wakeham Defends Removal of 2 Per Cent Escalation Clause from New Churchill Falls Deal\"\/>\t\t\t\t<\/p>\n<p>The Opposition is questioning the decision to eliminate the 2 per cent escalation clause set out in the original Churchill Falls MOU.<\/p>\n<p>That, according to the Liberals, means that NL loses the guarantee that the price paid to the province would rise over time.<\/p>\n<p>Premier Tony Wakeham says having a 2 per cent escalation clause\u00a0put the province in a vulnerable position.<\/p>\n<p>\u201cAs you know, in the previous agreement, there was a potential for a significant mortgage for all intents and purposes, left on Gull Island of almost $30 billion. \u00a0That\u2019s been reduced now, and that present value of that will be around $200 million, so that was a significant part of that as well.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"&#13; The Opposition is questioning the decision to eliminate the 2 per cent escalation clause set out in&hellip;\n","protected":false},"author":2,"featured_media":863056,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[45,49,48,269876,185074,269873,269875,269877,269874,269870,269871,269872],"class_list":["post-863055","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-ca","tag-canada","tag-listen-to-vocm","tag-news-radio","tag-news-radio-st-johns","tag-st-johns-fm-radio","tag-st-johns-local-radio","tag-st-johns-radio-station","tag-vocm","tag-vocm-590","tag-vocm-radio"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/863055","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=863055"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/863055\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/863056"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=863055"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=863055"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=863055"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}