03/31/2015 12:10 EDT | Updated 05/31/2015 01:12 EDT

Highlights of New Brunswick 2015-16 deficit budget delivered Tuesday

FREDERICTON - Highlights of the New Brunswick budget introduced Tuesday:— A deficit of $476.8 million is projected on an $8.6-billion spending program.— Accumulated debt expected to reach $12.6 billion by the spring of 2016.— Taxes on gasoline will increase by 1.9 cents per litre and the cost of diesel will jump by 2.3 cents per litre as of Wednesday.— The richest one per cent of New Brunswickers will be subjected to higher income taxes, with two new tax brackets created for those earning more than $150,000 annually.— The government plans to eliminate 249 teaching positions through attrition, close at least six courthouses and increase premiums for seniors who use the Medavie Blue Cross prescription drug program.