NB Budget: The Big Picture Numbers
Reading Time: < 1 minute
FREDERICTON—The New Brunswick government says it is on track to return to a balanced budget position by 2020-2021.
Some big picture details from the budget:
- The 2015-2016 deficit is now expected to reach $466.4 million, up from $453.1 million figure quoted by Melanson in his November update.
- Total government revenues are also down $12.4 million. The government has also seen a decline of $45 million in net income from NB Power, as well as lower corporate income tax and royalty revenues.
- These reductions have been partially offset by higher revenues in personal income tax as well as gasoline and tobacco taxes
- Revenues in 2016-2017 will total $8.7 billion, a five per cent increase over the 2015-2016 estimates. The deficit is projected at $347 million.
- Revenues in 2017-2018 are projected at $8.9 billion, with a deficit of $267 million.
- Revenues in 2018-2019 are projected at $9.0 billion, with a deficit of $167 million.
- Revenues in 2019-2020 are projected at $9.3 bilion, with a deficit of $49 million.
- And revenues in 2020-2021 are projected at $9.5 billion, with a surplus of $21 million.