New Brunswick Finance Minister Ernie Steeves poses for a photo with his new tie prior to budget day, in Fredericton, Monday, March 20, 2023. Steeves didn’t get new shoes but a new tie for the upcoming budget to be tabled today. He says the tie is from a company in St. Andrews and is the New Brunswick tartan. THE CANADIAN PRESS/Hina Alam
FREDERICTON – The New Brunswick government has tabled a $12.2-billion budget that forecasts a small surplus and promises a funding boost to help stabilize the ailing health-care sector.
Finance Minister Ernie Steeves said today the province is operating in a volatile economic environment where rapidly rising prices are putting pressure on household budgets and increasing costs for businesses.
The budget provides $3.6 billion for the health-care sector, an increase of 10.6 per cent from last year.
Steeves says the province has moved from a struggling economy to one dealing with challenges that come with growth.
The province’s population topped 800,000 last year, adding more than 40,000 people over the previous five years, but despite a lowering of the average age, it remains one of the oldest provinces.
The 2023-24 budget provides for a $40.3-million surplus on total revenues of $12.19 billion and expenditures of $12.15 billion.
This report by The Canadian Press was first published March 21, 2023.
