NEW – NB: Government investment in new affordable housing can bring prospects for propane
The New Brunswick government announced its 2021-22 provincial budget on March 16.
Highlights for the propane sector include:
- $10.8 million to increase the availability of affordable housing units throughout the province in conjunction with the new National Housing Strategy and the Canada Housing Benefit.
- An increase in the carbon-emitting products tax from $30 per tonne to $40 per tonne effective April 1, as per requirements of the federal backstop. This will result in a carbon tax increase of 1.46 cents per litre for propane, 2.21 cents per litre for gasoline and 2.68 cents per litre for diesel, with the tax revenue directed back to New Brunswickers.
- $36 million transferred to the Climate Change Fund.
- As announced last month, the government has compiled a list of 96 climate change projects funded through the NB carbon tax revenue for 2020-21. These funds will be invested in projects to increase energy efficiency in buildings, undertake climate change research and complete climate adaptation projects for municipalities.
Jean-Francois Duguay, Government Relations Director for Atlantic Canada, will continue following up with the environment department and provide updates as new information becomes available.