March 10, 2020
New Brunswick Projects 2020-2021 Budget Surplus; Reduces Taxes on Gas and Rental Properties
New Brunswick Finance Minister Ernie Steeves tabled a $10.2-billion budget focused on lowering the province’s debt, while addressing priority areas such as health care and education.
The balanced budget estimates a surplus of $92.4 million — the fourth consecutive surplus in four years. Net debt is projected to be reduced by $129.3 million.
The minority government of Premier Blaine Higgs is increasing health spending to a record $2.9 billion, which includes new money for hiring nurse practitioners, and is boosting the province’s vaccination program to $1.5 million, enabling all New Brunswickers to have free flu shots.
The province will also reduce taxes on commercial and residential rental properties starting in 2021 and cut gas taxes by 4.63 cents per litre as of April 1 under its own carbon plan.
In December, the government tabled its $599.2-million capital budget for 2020-2021, which included:
- $123.9 million invested in health-care infrastructure. Of this total, $62.9 million is for the continuation of renovations, additions and other improvements, $45 million for capital improvements and equipment, and $16 million to start new projects.
- $70.6 million invested in K-12 infrastructure.
- $279.3 million for the maintenance and improvement of highways, roads and bridges. An additional $30.9 million for the maintenance and improvement of government buildings and other infrastructure.
Click here to read the New Brunswick budget documents.