2021-22 capital budget focuses on balancing economic recovery and maintaining fiscal discipline15 December 2020
FREDERICTON (GNB) – The provincial government today tabled a $673.4 million capital budget that focuses on supporting the economic recovery while maintaining fiscal discipline to ensure financial stability for the province’s future.
“Before the COVID-19 outbreak, we were making progress to improve our economy and to get our financial house in order,” said Finance and Treasury Board Minister Ernie Steeves. “Today, we are facing a different reality and must be prepared for the challenges in the months ahead. This capital budget reflects the lessons learned throughout the pandemic by recognizing where we are in our economic recovery and building fiscal flexibility to better provide the resources needed during times of crisis.”
“The 2021-22 capital estimates prioritize projects that balance our needs with our fiscal reality with additional investments in the health care and education and in maintaining existing infrastructure,” he said.
Dependable public health care
The government will invest $128.2 million in health-care infrastructure. Of this total, $83.9 million will be for continuation of renovations, additions and other improvements around the province, $44.3 million will be for capital improvements and equipment.
The government will invest $72.6 million in K-12 infrastructure.
Vibrant and sustainable communities
The capital budget includes $307.7 million for the maintenance and improvement of highways, roads and bridges. An additional $62.2 million will be invested in the maintenance and improvement of government buildings and other infrastructure.
Affordable, responsive and high-performing government
The capital budget aims to strike a balance between meeting financial responsibilities while investing for future generations.
“The five-year capital plan that I am outlining today maintains spending at an appropriate level and one we can afford,” said Steeves. “It also provides clarity to our contractors and suppliers on the path forward.”
More information on the projects will be available when respective ministers introduce their capital estimates later in December.
Affordable, responsive and high-performing government is one of the government’s key priorities.
The capital budget is available online.