Budget 2017 What You Need to Know #nlpoli #budget2017
Finance Minister Cathy Bennett is delivering the budget in the House of Assembly.
The government will cut the gas tax by 8.5 cents on June 1 and 12.5 cents per litre by year's end.
There will be no new taxes or fees and no layoffs. However, Bennett wont say that jobs are safe.
Also announced was $13.2 million for Corner Brook Hospital and $7.5 million for the Waterford.
MUN and CNA will get $405 million in funding. The tuition freeze remains. Also announced is the restoration to the library funding. There will also be $120 thousand for inclusive education.
Muskrat Falls will receive $500 million in funding.
Government is projecting oil at $56 a barrel.
Debt at 14.6 billion. Projected budget of 1.1 billion. Down from 1.83 billion.