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2016-2017 New Brunswick budget highlights

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Feb 02, 2016

On February 2, 2016, New Brunswick Finance Minister Roger Melanson presented the province’s 2016-2017 budget, “Foundation for our Future”.

The budget focused on four key priorities:

  • Job creation;
  • Balanced approach to balancing the budget;
  • Improving efficiency and waste reduction within the Government; and
  • Protecting education and health care.

The 2016-2017 budget projects government revenues to increase by 5.1% while expenses are expected to grow by only 3.5%. The deficit for the year is projected to be $347 million which includes a $100 million contingency reserve. If the contingency funds are not required, the deficit is anticipated to be $247 million.

Several of the measures introduced to increase revenue involve increased taxation. However, certain personal income tax rates will be reduced. The announced changes to taxation in New Brunswick are outlined in our Canadian tax alert. For further details, we refer you to the New Brunswick Department of Finance website.

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