Release of 2024 New Brunswick Budget

New Brunswick Minister of Finance and Treasury Board Ernie Steeves tabled the province’s 2024-2025 budget today. This year’s balanced budget, titled Stronger Than Ever: Let’s Keep Building, focuses on healthcare as well as investments in other priority areas such as housing, supporting vulnerable populations, and education.

The 2024-25 budget includes an increased investment of $68.9 million for the New Brunswick Housing Corporation; this is a 54.1 percent increase over last year’s budget. Investments in affordable housing include:

  • $22 million for a direct-to-tenant rental benefit for families and seniors who are in core housing need for affordability reasons.
  • $5.5 million through the Canada Housing Benefit to help an additional 1,200 New Brunswick households.
  • $3.5 million through the Canada Housing Benefit to support survivors of gender-based violence.
  • $3 million through the Rent Bank to reduce the risk of eviction due to arrears in rent or utility bills.
  • $11 million in permanent funding to respond to the homelessness crisis.
  • $2.5 million to support the development and repair of rental units.
  • $2.6 million in support of a partnership with Habitat for Humanity.
  • $20 million through the Regional Development Corporation to help small communities build or enhance existing infrastructure.
  • $2.5 million through the Regional Development Corporation to support pre-construction work related to affordable housing.

Other initiatives to support vulnerable populations include:

  • An increase of 3.6 percent for social assistance recipients under the Transitional Assistance Program and Extended Benefits Program.
  • $29.7 million to increase wages for personal support workers in home support and special care homes, group homes, community residences, family support, and attendant care.
  • $2.2 million to increase the per diems in adult residential facilities.
  • Making amendments to the New Brunswick Income Tax Act to provide additional support to low-income seniors, permanently increasing the base amount of the Low-Income Seniors’ Benefit to $600 from $400, with the value of the benefit indexed to the consumer price index annually.
  • Providing a monthly household supplement for social assistance recipients and youth engagement services recipients that will benefit more than 33,000 residents, including more than 10,000 children.

See the new budget for yourself on the government’s website:

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