New Brunswick announces innovation funding

The Government of New Brunswick has announced new details on how it plans to spend nearly $1 billion on education and innovation over the next three years including $261 million in FY16-17. The Education and New Economy Fund was initially announced last January by premier Brian Gallant in his annual state of the province speech. Funding will be allocated to at least a dozen new initiatives including R&D, innovation and the green economy, with money flowing to entrepreneurs, businesses, scientists and students. Several provincial ministries are targetting by the new funding with an emphasis on investment coordination, skills training, productivity and job creation. The source of the new money has not been clarified but the province recently announced an increase in the HST to 14% beginning July 1, which will raise an additional $300 million annually....