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Highlights from the New Brunswick budget include a reduction in gas taxes

FREDERICTON — Highlights from the New Brunswick budget presented Tuesday:

— The province’s $10.2 billion budget for 2020-21 includes a projected surplus of $92.4 million.


— New Brunswick’s net debt will be reduced by $129.3 million, reaching $13.7 billion by the end of March 2021.


— Health funding is increasing by 3.9 per cent to $2.9 billion.


— Interest rates on the provincial portion of student loans will be reduced to the prime rate from the prime rate plus 2.5 per cent.


— Social assistance rates will be indexed to the Consumer Price Index.


— As part of the New Brunswick carbon plan, gas taxes will decrease by 4.63 cents per litre, effective April 1.


This report by The Canadian Press was first published March 10, 2020.

The Canadian Press

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