Lord’s budget to relieve energy rate shock

NEW BRUNSWICK, CANADA – Premier Bernard Lord has announced $100 million in energy relief for ordinary New Brunswickers, tipping his hand on a budget that could prolong the life of his minority government.

Lord’s reforms are sweeping and dramatic, including capping power rate increases, cutting taxes, punishing senior managers at NB Power and regulating New Brunswick’s oil and gas market.

Lord says Tuesday’s budget will remove the eight per cent provincial sales tax from all home heating bills, including oil, electricity, natural gas, propane and firewood.

He says cabinet will cap this year’s power rate increase at eight per cent for residential customers, instead of 13 per cent, as NB Power had requested from the Public Utilities Board.

CBC