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New Brunswick prioritizes highways in $1.2 billion capital budget
December 1, 2023 By Rock to Road Staff
(Photo credit: Andrey Popov, Adobe Stock) FREDERICTON – The Government of New Brunswick has put aside $1.2 billion for their new capital budget heading into 2024, with funds to go towards assets including transportation, housing, public schools and health care.
The maintenance and improvement of highways and bridges received financial priority within the budget, with $505 million being allocated toward projects within this sector. One reason for this, according to Finance Minister Ernie Steeves, is the province’s record-breaking population growth and its resulting demand on public infrastructure.
Within the budget, $33 million has been allocated toward public housing development, $187.4 million toward public schools and $199.8 million toward health-care infrastructure, with an additional $155 million to be used for renovations and additions to this infrastructure.
The announced budget is $200 million more than the plan tabled by the Government last year, with Steeves saying this increase is reflective of inflationary and supply chain pressures.
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