Provincial Budget Being Unveiled In Fredericton

The Provincial government is tabling an $8.2-billion budget with a $183-million deficit forecast for 2012-13 and a provincial debt expected to hit $10.8 billion by the end of March 2013.

But the budget is forecasting the net debt to hit $10.8 billion by the end of March 2013.

The government will reduce the number of public sector jobs by 1,500 by attrition for each of the next three years, saving about $86 million annually by 2014-15.

Finance Minister Blaine Higgs says the government will spend an extra $6.4 million this year in salaries to address pay equity.

There's no change in personal income taxes, but the tax on buying a home doubles to 0.5 per cent on June 1, which is expected to generate another $7 million a year.