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The 2000-2001 Budget is a balanced budget with a surplus of $21.3 million. It contains increased funding for health care and education, as well as tax reductions. This budget makes New Brunswick more competitive and more compassionate.
- some government programs will be eliminated, others consolidated or improved
- reduction in duplication of government services through delivery by the private sector
- gross capital budget reduced to $151.4 million
- reduction in unconditional grants to municipalities
- increases in Crown land royalty rates
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At $1.5 billion, this budget provides the highest level of health care funding in our history. In the year just ending and the one ahead, the Province will provide an extra $143 million over the amount budgeted in 1999-2000 for health.
- $60 million increase for hospital services
- $38.7 million increase for family and community social services
- $13 million increase for ambulance services
- $13 million increase for Medicare
- $5.5 million increase for Prescription Drug Program
- 10 new medical seats for New Brunswickers at Memorial University
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- $1,000 increase in financial support for certified disabled persons, to be phased-in over four years
- $100 annual Low-income Seniors' Benefit will be offered to eligible seniors in 2000
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Funding for K-12, universities, community colleges and capital investments in educational facilities totals $999 million. This is the highest level of education funding in New Brunswick history.
- $25 million per year for four years to ensure schools are healthy and safe
- 2% per year increase for each of the next three years for New Brunswick universities
- maintain $1-million extra top-up fund for school supplies
- lower the maximum class size in Grade 2 from 28 to 25 students
- implement the second year of the pay increase for supply teachers
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As a result of recent federal changes and the 2000-2001 Budget, New Brunswickers will see a $33 million reduction in personal income tax.
- effective July 1, 2000, payroll deductions will reflect the equivalent of 57% of basic federal tax
- for the 2000 tax year, the Province will move from the current "tax on tax" to the "tax on taxable income" method of calculating provincial personal income tax
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New Brunswick's small business corporate income tax rate will now be the lowest in Canada. This will put $6 million into the hands of small business owners to grow their firms.
- rate will be reduced from 6% to 4.5%
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It is crucial to restore a proper balance between the Province's spending and its revenues. The government will continue to review programs and to manage smarter in the years ahead.
The end result will be a smaller government focused on clear public priorities: health care, education, lower taxes and ongoing balanced budgets.
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Published by N.B. Department of Finance
March 28, 2000
ISBN 1-55236-481-X
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