Finance Minister Rene Legacy said the province’s deficit has grown to $1.3 billion amid higher spending in health care and social development. Total revenue is projected to be $372.1 million lower than budgeted, largely driven by lower corporate income tax and personal income tax revenue, as well as lower Harmonized Sales Tax (HST) revenue. It […]
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New Brunswick has recorded its first provincial deficit since 2016-17, according to the Liberal government. Consolidated financial statements show the province ended the 2024-25 fiscal year with a $104.4-million deficit. That was compared to a $40.9-million surplus that the previous Progressive Conservative government had budgeted for. However, it was improved compared to the nearly $400-million deficit […]
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New Brunswick’s Liberal government is now projecting a nearly $399-million deficit this fiscal year, according to the third-quarter results. That is compared to a projected $92-million deficit just three months ago and a $41-million surplus budgeted by the previous Progressive Conservative government. Finance Minister René Legacy said there are several factors that negatively influenced the […]
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