— Highlights of the Newfoundland and Labrador budget presented Tuesday:— An almost $8.4 billion plan with a forecast $683-million deficit that slightly increases spending, as net debt escalates to $15.5 billion, up from $14.6 billion last year. —— The profitable oil and gas subsidiary of Crown corporation Nalcor Energy, responsible for the over-cost Muskrat Falls hydroelectric project, will be hived off as a stand-alone Crown corporation to accelerate offshore development. —— $366 million to Memorial University of Newfoundland, down $9 million from last year, including $4 million to help the university maintain a freeze on comparatively low tuition fees. —— $1 million for flood risk mapping and forecasting in Mud Lake and Happy Valley-Goose Bay, downstream from the Muskrat Falls project, plus $200,000 a year to monitor ice thickness and weather. —— $11 million over three years for a new Labrador Wellness Centre in Happy Valley-Goose Bay.

Source: National Post March 27, 2018 17:03 UTC