FREDERICTON (GNB) – The provincial government has earmarked $300 million to establish the New Brunswick Advantage Savings Fund. The aim is to generate investment income that will facilitate the province’s long-term economic growth and sustainability.

“This new fund aligns with our focus to improve the quality services provided to New Brunswickers in the long term,” said Finance and Treasury Board Minister Ernie Steeves. “The income generated will be used in future years to fund initiatives that support growth and opportunity in the province, including affordable housing, innovation in the delivery of public health care and education, and vibrant and inclusive communities.”

Based on current interest rates, the income generated is expected to be about $13 million annually.

“We are proud of the strong economic growth in our province,” Steeves said. “The New Brunswick Advantage Savings Fund allows us to build on that success now and for generations to come.”