FREDERICTON, N.B. — New Brunswick Finance Minister Cathy Rogers tabled her government’s election-year 2018-19 budget Jan. 30, announcing spending that will delay a return to a balanced budget by one year and includes $815.3 million in public infrastructure spending.
The budget includes an additional $73 million in new allocations to support economic competitiveness, youth employment and seniors, a media statement indicated.
“Today’s budget recognizes the challenges that lie ahead. By listening to New Brunswickers and investing in priority areas, we can meet these challenges head-on,” said Rogers of the governing Liberals.
Economic growth is anticipated to surpass one per cent in 2018, for the fourth consecutive year. The projected deficit for fiscal 2018-19 is $189 million. A balanced budget is now projected for 2021-22.
Rogers is projecting a deficit of $115.2 million for 2017–2018. This is an improvement of $76.7 million from the budgeted deficit. Revenue is $74.3 million higher than budgeted and largely reflects improvements in Corporate Income Tax and Harmonized Sales Tax, the government said.
The budget will implement capital spending plans announced in November. New capital investments total $28.1 million while $787.2 million is earmarked for maintenance and the continuation of previously announced projects.
The government is hiking spending on tourism infrastructure. It will invest $12.6 million on parks, trails, historic sites and other tourism projects. This represents a 19.1-per-cent increase over the level of spending last year, the statement indicated.
Tourism infrastructure spending includes funding for the New Brunswick Aquarium and Marine Centre, Ministers Island, Scenic Drive infrastructure and Provincial Park Revitalization.
A total of $105.8 million is being invested in schools. The following projects are currently under construction or are undergoing upgrades: Oromocto High School, Saint John High School, Cite des Jeunes A.-M.-Sormany, Bath Community School renovation, Ecole Marie-Gaetane, Centre scolaire communautaire La fontaine, Ecole Arc-en-ciel and a new Campbellton K-8 school.
Additionally, the government will undertake reviews at 15 more schools around the province and spend on community college infrastructure, the statement said.
Rogers announced the government will spend $99.9 million on health care infrastructure. This includes continuing the work on additions and renovations at Dr. Georges-L.-Dumont University Hospital Centre, Saint John Regional Hospital, Chaleur Regional Hospital and Dr. Everett Chalmers Regional Hospital.
The government will spend $458.1 million in roads, bridges, buildings and other infrastructure. This continues ongoing construction on sections of Route 11 and the Fundy Trail Parkway Connector.
Rogers also announced $20.3 million will be allocated towards energy retrofits and renewable energy upgrades in 2018-19.
New Brunswickers are expected to go the polls in September. Liberal Brian Gallant is the province’s premier.
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