It's confirmed: Newfoundland and Labrador will not be receiving equalization payments from Ottawa, the first time since Newfoundland became a province.

Newfoundland and Labrador, riding high on its offshore oil operation Hibernia, has now become a "have" province.

"This is a very proud day for Newfoundlanders and Labradorians," Williams said at a press conference.

"I don't think the Newfie joke is there anymore. I think we're now an example to our fellow Canadians of how it can be done and how to work your way through hardship."

In a surprising reversal of fortunes, Ontario joins Quebec, Manitoba, New Brunswick, Nova Scotia and PEI as payment recipients.