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.