The Progressive Conservative Government’s third budget projects a deficit of $467.7 million for the coming fiscal year, compared to a revised deficit of $264.3 million for 2023-24.
When he presented the budget this afternoon, Finance Minister Allan MacMaster told the House part of the aim of the government’s latest spending plan is to respond to the high cost of living.
Starting in 2025, the government will index personal income tax brackets to inflation, along with the basic personal amount and some non-refundable tax credits.
Other budget highlights include $35.3 million to build and maintain public housing and $18.8 million to start a provincewide school lunch program.
Healthcare continues to be the largest single budget item with a total of $7.3 billion set aside for 2024-25.
Total spending is $16.5 billion, compared to $14.8 billion last year.