Finance Minister Heath MacDonald has brought down his first provincial budget and it’s the second straight that carries a surplus. This time it’s $1.5 million.
Some are speculating it’s a pre-election budget.
There’s $32.4 million more for health care with more investments in mental health and 100 new long term care beds that are coming in.
The small business tax is being cut by 0.5% in the first of a multi-year commitment to reduce the tax.
A 15% rebate on businesses making investment is also being offered for up to $25,000.
A new rural growth initiative will provide $2.6 million to communities and organizations that will include better high speed internet service.
The basic personal exemption for income tax will increase by $1,000 over two years.
400 new daycare spaces will be made and early years centres will see wages for staff increasing on July 1st.
A new incentive for Island students to attend a public post-secondary school on the Island with a new Island Advantage Bursary that will go along with the George Coles Bursary for students that meet the criteria.
Also, 1,000 low income families will be able for free post secondary education.
The province is also going to add up to 1,000 new low income housing units over the next four years.