FREDERICTON (GNB) – The provincial government tabled today a $466-million capital budget for 2013-14 that is focused on maintaining existing assets and completing projects already underway. Only $3.5 million will be spent to start new projects, down from $24 million in 2012-13 and $42 million in 2011-12.
"Our government's priorities are maintaining existing assets today to avoid greater costs down the road while completing the projects currently underway in the most timely, cost-effective manner possible," said Finance Minister Blaine Higgs. "At the same time, as we rebuild our province’s finances, we do not believe we are in a financial position to fund a significant number of new projects."
Higgs reported that the provincial government is within two per cent of the original multi-year plan tabled in December 2011, covering the period 2012-13 to 2014-15.