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Tuesday, March 22, 2011

Budget Highlights

(Budget Highlights)




*Tobacco taxes up as of midnight - $10.50 on a carton of smokes



*Gas and diesel taxes up just under 3-cents a litre as of midnight



*Slight reduction in small business corporate tax effective January 1st



*Corporate tax reduced to 10-percent and held for 2012



*No increase in personal income taxes for low and middle income in 2011 while high income earners will see their tax break effective at the beginning of this year eliminated in July



*Looking for increased profits from NB Liquor - no tax increase on booze



*The freeze on university and college tuitions eliminated and tuition increases capped at 200-dollars



*Creation of a new teaching supplies fund that will allow teachers to purchase educational items for their classrooms



*A 50-dollar increase in the school supplies supplement for low income families



*Initial funding for a mental health services action plan - a comprehensive diabetes program - and - assistance for people with Multiple Sclerosis