Summary of New Brunswick Tax Expenditures now available online06 November 2019
FREDERICTON (GNB) – The provincial government published today the Summary of New Brunswick Tax Expenditures for 2018.
“One of our priorities is to be an affordable and responsive government,” said Finance and Treasury Board Minister Ernie Steeves. “We believe in strong fiscal management and public accountability, which is why I am pleased to release today’s document which continues our efforts to respect best practices in fostering government budgetary and fiscal transparency.”
The summary, which is published for the first time, reports on tax expenditures, providing a brief description of each measures’ objectives, implementation date and estimated cost.
Tax expenditures are tax credits, rebates, relief programs provided to individuals, non-profit organizations, institutions, municipalities and businesses. They help achieve social and economic benefits, however, they represent foregone revenue.
“We committed to a new way of reporting financial information,” said Steeves. “We are providing New Brunswickers with the information they need to understand what we are doing, and to hold us accountable.”
Affordable and responsive government is one of the government’s key priorities. More information about the government’s priorities and measurements is available online.