Transportation and Works
March 26, 2013
Budget 2013: Investing in the Future with $1 Billion to
Stimulate Business Growth, a Vibrant Economy, and Strong Communities
Newfoundland and Labrador is thriving and business optimism remains high in an economy where major projects in the resource sector have boosted capital investment to record levels, generated employment throughout the province, and raised consumer spending. Budget 2013: A Sound Plan, A Secure Future furthers the economic agenda of the Dunderdale Government with over $200 million in economic development investments, including a renewed suite of business and regional development programs, as well as strategic investments in the seafood industry and the forestry sector. Budget 2013 also focuses on the province’s long-term prosperity with an infrastructure investment of over $866 million to encourage economic growth, job creation and stronger communities.
“Newfoundland and Labrador is expected to lead Canada in economic growth in 2013 as this government furthers its commitment to strengthen the business environment, develop innovative industries, and diversify the economy – today and well into the future,” said the Honourable Keith Hutchings, Minister of Innovation, Business and Rural Development. “We will continue to encourage private sector investment to stimulate further growth in all regions of our province, support our local companies, attract external investors to encourage new business activity, and provide a competitive tax regime to maintain a business-friendly environment in which to work and be competitive.”
Budget 2013 includes infrastructure investments in all regions of the province in key areas such as roads, marine services, health, education, municipal works, buildings, and aquaculture. It will generate 5,330 person years of employment.
“This budget is a sound fiscal plan with investments in sustainable infrastructure improvements that will continue to drive economic activity and prosperity for the people and communities of the province for many years to come,” said the Honourable Paul Davis, Minister of Transportation and Works. “Over the past four years the province has successfully countered the effects of the global economic downturn by making direct public investments in core infrastructure to stimulate growth. Our government continues to advance this prudent plan to support a range of key road, bridge, marine, and building projects throughout Newfoundland and Labrador.”
For further details see the Backgrounders: Budget 2013 Investments for Economic Growth and Strong Communities; and, Budget 2013 Investments to Balance Infrastructure Priorities.
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- Backgrounder - Budget 2013 Investments for Economic Growth and Strong Communities
- Backgrounder - Budget 2013 Investments to Balance Infrastructure Priorities
Media contacts:
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Diana Quinton Director of Communications Department of Innovation, Business and Rural Development 709-729-4570, 631-8155 dianaquinton@gov.nl.ca |
Ed Moriarity Director of Communications Department of Transportation and Works 709-729-3015, 699-5668 edmoriarity@gov.nl.ca |
2012 03 26 2:55 p.m.