$41-million surplus and other highlights from New Brunswick’s 2024-25 budget

FREDERICTON — New Brunswick’s Progressive Conservative government on Tuesday tabled its last budget before this year’s provincial election. Here are some highlights.

– Budget of $13.3 billion, with 6.4 per cent increase in spending.

– Surplus of $40.9 million.

– Health care spending of $3.8 billion — virtually the same as what was spent in the fiscal year ending March 31.

– $1.9 billion for education, an increase of almost $200 million compared with what was spent in the year ending March 31.

– Provincial gross domestic product grew by an estimated 1.1 per cent in 2023 and is forecast to grow by 0.7 per cent in 2024.

– Net debt projected to be $12.7 billion, representing 26.7 per cent of provincial GDP.

– An increase of 3.6 per cent in benefits for social assistance recipients.

This report by The Canadian Press was first published March 19, 2024.

The Canadian Press