Tax hikes, cuts expected as New Brunswick unveils provincial budget

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Tax hikes, cuts expected as New Brunswick unveils provincial budget – CP

by ahnationtalk on February 2, 2016400 Views

Source: The Canadian Press
Feb 2, 2016

FREDERICTON _ New Brunswickers will learn this afternoon how tough the medicine will be when the provincial government tables its budget.

Finance Minister Roger Melanson will rise in the legislature to announce new measures expected to both cut costs and raise revenues.

The government is addressing a structural deficit of about $600 million with a provincial debt that is roughly $12.4 billion.

A goverment official has told The Canadian Press that measures will include cutting 30 per cent of civil service managers, phased in over several years.

Other possibilities include increasing the HST to 15 per cent from its current 13 per cent, increasing corporate taxes, and implementing highway tolls.

Last week, Melanson said the government had already saved $115 million through initiatives such as cutting the pay of the premier and cabinet, merging departments and eliminating waste.

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