FREDERICTON — New Brunswick’s minority Tory government is set to table its first budget today and is warning to expect the hard decisions needed to balance the province’s books.
Finance Minister Ernie Steeves says the province is paying almost $700-million a year to service its approximately $14 billion debt.
Steeves says he thinks it’s urgent the government balance the budget and try to pay down the net debt.
He says while there will be some new money spent in the budget, some departments will face cuts.
Steeves also says the budget will not have big tax cuts, but it won’t raise taxes either.
The province had consecutive deficit budgets for more than a decade until a small surplus last year.
The Canadian Press