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.

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

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

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— 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.

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

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

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

The Canadian Press

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