Finance Minister Blaine Higgs tabled the 2013-2014 Capital Budget in the Legislative Assembly Dec. 11, 2012. The $466 million capital budget is focused on maintaining existing assets and completing projects that are already underway.
In order to address New Brunswick’s serious fiscal challenges, only $3.5 million in spending on new projects has been approved, down from $24 million last year and $42 million in 2010-11. The spending levels in this capital budget follow closely the levels set out for 2013-14 in last year’s multi-year capital budget.
Similar to last year, the 2013-14 capital budget lays out spending targets for the next two years in order to help with planning and prioritizing capital needs while improving transparency.