FREDERICTON — New Brunswick Finance Minister Ernie Steeves tabled an $11.3-billion budget for 2022-23 on Tuesday. Here are some highlights:
- Projected surplus of $35.2 million for 2022-23, and a $15-million increase in net debt to reach $12.99 billion.
- Gas and diesel prices will increase April 1 as a result of federal carbon-pricing requirements. In response, the New Brunswick government will provide about $40 million in personal income tax relief in 2022.
- Provincial property tax rate cuts will be phased in over the next three years, including a 50 per cent reduction for non-owner-occupied residential properties such as apartment buildings and other rental properties.
- In order to protect tenants, the government is imposing a one-year cap of 3.8 per cent on allowable rent increases, retroactive to Jan. 1, 2022.
- Spending on affordable housing will increase by $6.3 million.
- The health-care budget is $3.2 billion -- a 6.4 per cent increase over 2021-22.
- $38.6 million will be spent in the coming year to increase wages for human services workers including in home support and group homes.
This report by The Canadian Press was first published March 22, 2022.
The Canadian Press
