N.B. Introduces Balanced Budget With Lower Property Taxes
Mar 10, 2020
New Brunswick rolled out plans to lower property tax rates and fund new initiatives to grow the workforce in a $10.2 billion provincial budget on Tuesday.
Finance and Treasury Board Minister Ernie Steeves said the budget creates conditions for growth and addresses the province’s challenges head-on.
“Our 2020-2021 budget is designed to continue on our path to save New Brunswick, not to save the government,” he said told reporters before the budget speech.
The so-called “double tax” on non-residential properties will be reduced by 50 percent over a four-year period.
The government says those measures are expected to return $100 million to the New Brunswick economy.
The government will direct $900,000 of federal funds to a customized training program for newcomers with language barriers. That comes with an additional $464,000 of federal dollars allocated to improving workplace environments to grow the percentage of women in the construction industry.
New Brunswick has set a target to work with the federal government to increase immigration to 10,000 newcomers per year. The premier announced that goal as part of his 2020 State of the Province Address in January.
For more information follow the link below: