Provincial Government Moves Forward With Significant Budget Investments

Budget 2010: The Right Investments - For Our Children and Our Future, further enhances the commitment by the Provincial Government to continue its substantial investments in economic stimulus, healthcare and education. The House of Assembly has voted on and passed the funding initiatives identified in Budget 2010.

�I�m pleased to see the investments put forward by the Williams Government moving ahead,� said the Honourable Tom Marshall, Minister of Finance and President of Treasury Board. �Following a thorough debate, Budget 2010 has passed. These investments continue stimulus measures across the province and work to further diversify our economy. This is a budget that builds upon plans put in place by our government to create a prosperous future for people in all regions of this province.�

Highlights of Budget 2010 include:

• A $1 billion infrastructure program, with the Provincial Government�s infrastructure strategy valued at more than $5 billion over the next several years;
• $2.7 billion for health and community services, including investments to advance health and wellness for children and youth;
• New tax measures to benefit seniors, small business and others, putting approximately $49 million back into the pockets of residents;
• $1.3 billion in education spending to further ensure quality programming and learning environments for students throughout Newfoundland and Labrador;
• $167 million for the further development of the Department of Child, Youth and Family Services;
• $134 million for the fight against poverty through the Poverty Reduction Strategy, continuing progress toward the goal of becoming the province with the lowest poverty rates in Canada; and,
• More than $158 million in Labrador through the Northern Strategic Plan, furthering record investments to foster a bright and prosperous future for Labrador.

�As the world economy continues to recover from the recession, these investments and stimulus measures will help keep the momentum in this province moving forward,� said Minister Marshall. �It is responsible government to ensure we continue to provide funding for programs and services as well as further stimulate the economy while other jurisdictions look to bring stability to their economies.�

For additional information on Budget 2010: The Right Investments - For Our Children and Our Future, visit www.gov.nl.ca/budget2010/

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Media contact:
Ronalda Walsh
Director of Communications
Department of Finance
709-729-6830, 685-1741
ronaldawalsh@gov.nl.ca

2010 06 02                  9:40 a.m.