April 16th, 2024

$41-million surplus and other highlights from New Brunswick’s 2024-25 budget

By The Canadian Press on March 19, 2024.

New Brunswick's provincial flag flies in Ottawa, Monday, July 6, 2020. THE CANADIAN PRESS/Adrian Wyld

FREDERICTON – New Brunswick’s Progressive Conservative government on Tuesday tabled its last budget before this year’s provincial election. Here are some highlights.

– Budget of $13.3 billion, with 6.4 per cent increase in spending.

– Surplus of $40.9 million.

– Health care spending of $3.8 billion – virtually the same as what was spent in the fiscal year ending March 31.

– $1.9 billion for education, an increase of almost $200 million compared with what was spent in the year ending March 31.

– Provincial gross domestic product grew by an estimated 1.1 per cent in 2023 and is forecast to grow by 0.7 per cent in 2024.

– Net debt projected to be $12.7 billion, representing 26.7 per cent of provincial GDP.

– An increase of 3.6 per cent in benefits for social assistance recipients.

This report by The Canadian Press was first published March 19, 2024.

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