Waiting for the live steam from the New Brunswick legislature to begin. Thanks for the patience.

Highlights of the New Brunswick spring budget
introduced Tuesday:
- A deficit of $182.9 million is projected in an $8.2 billion
spending program.
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- Net debt expected to reach $10.8 billion by March 2013, an
increase of $738.9 million.
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- The public service will be reduced by 4,500 jobs through
attrition over the next three years for an estimated savings of more
than $86 million.
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- The government will sell Crown assets valued at about $10
million this year, and will look at selling the government airplane
and review policies for government vehicles.
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- The biggest slice of the budget goes to the Health Department
at almost $2.6 billion, an increase of $41 million.
(The Canadian Press)

The New Brunswick government is continuing to slash
spending in an effort to return to balanced budgets in time for the
next election in 2014.
The $8.2-billion budget for 2012-13 includes a $183 million
deficit, down from the $449 million shortfall recorded for the
budget year ending March 31.
But the budget is forecasting the net debt to hit $10.8 billion
by the end of March 2013.
The government will reduce the number of public sector jobs by
1,500 by attrition for each of the next three years, saving about
$86 million annually by 2014-15.
Finance Minister Blaine Higgs says the government will spend an
extra $6.4 million this year in salaries to address pay equity.
There's no change in personal income taxes, but the tax on buying
a home doubles to 0.5 per cent on June 1, which is expected to
generate another $7 million a year.
The government is planning to sell $10 million in government
assets this year, and will look at selling the government airplane.
Higgs says the government will also bring in a new royalty
structure to ensure it receives its fair share of profits from the
development of natural resources, such as natural gas.
(The Canadian Press)

N.B. Finance Minister Blaine Higgs: This government believes that responsible management of the province’s finances is paramount.

But within this context, we must provide the environment for sustainably growing the economy to create and maintain high-quality jobs across the province.

We must also strive to instill a culture of healthy, growing communities and an enhanced quality of life for all New Brunswickers. These are our priorities as a government

Thank you for following our live online coverage of the 2012-2013 New Brunswick Budget announcement.

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