2023-2024 Capital Budget Tabled
Today, our government tabled a $1 billion capital budget, an increase of $152.3 million over the multi-year plan tabled last year. This increase reflects New Brunswick's needs as we experience a growing population and the elevated costs of a high-inflation environment.
We will invest $110.2 million in the infrastructure of public schools, an increase of 41.9% over the multi-year plan released last year. This will help accommodate the influx of nearly 4,000 students at the province’s schools this year.
An investment of $50 million will be made in the upcoming year for maintenance and improvements in nursing homes and to address housing challenges. This includes $33 million for affordable public housing, the first government-owned housing units to be built in 38 years.
$477.4 million will be invested toward the maintenance and improvement of highways, roads and bridges, an increase of 17.9% over the multi-year capital plan.
The $562.8 million budget for the Department of Transportation and Infrastructure is a $73.5 million increase over last year’s multi-year capital plan and is largely a reflection of rising global commodity prices.
The government will invest $176.6 million in health-care infrastructure. Of this, $95 million will be for the continuation of renovations, additions and related improvements; $81.6 million will be for other improvements and equipment.