2022-2023 Capital Budget Introduced, Aims to Address Infrastructure Deficits in New Brunswick
The provincial government tabled a $746.8 million capital budget today that focuses on addressing the province’s infrastructure deficit while supporting sustainable economic recovery.
“Our government has set its priorities with a focus on building a stronger, more resilient New Brunswick, and this budget will set us on the path to achieve that,” said Finance and Treasury Board Minister Ernie Steeves. “The improvement in our fiscal situation means that the increase in our budget is one that we can afford and allows us to begin addressing our infrastructure deficit.”
Vibrant and sustainable communities
The government will invest $338.8 million in the maintenance and improvement of highways, roads and bridges around the province. An additional $53.2 million will go toward the maintenance and improvements of buildings and other infrastructure.
Dependable public health care
The government will invest $153.2 million in health-care infrastructure. Of this total, $103.8 million will be for the continuation of renovations, additions and related improvements around the province, and $49.4 million will be for other improvements and equipment.
The government will invest $84.7 million in infrastructure of public schools.
Affordable, responsive and high-performing government
Steeves said the capital budget strikes a balance between addressing the province’s infrastructure needs, meeting its financial obligations, and supporting the provincial economy.
“We have consistently taken a disciplined approach to managing our finances,” said Steeves. “This focus means that we have the flexibility to further address our infrastructure needs without a departure from our principles as responsible financial managers.”
More information on the projects will be available when ministers introduce their respective capital estimates later this month.