Health spending helped push New Brunswick deficit to record $1.3B in last fiscal year

POLITICS Health spending helped push New Brunswick deficit to record $1.3B in last fiscal year By Staff The Canadian Press Posted September 25, 2026 9:46 am 1 min read View image in full screen N.B. Finance Minister René Legacy speaks to reporters at the legislature, in Fredericton, on Tuesday, May 26, 2026. THE CANADIAN PRESS/Eli Ridder. EJR LEAVE A COMMENT SHARE THIS ITEM ON FACEBOOK SHARE THIS ITEM ON X SEND THIS PAGE TO SOMEONE VIA EMAIL SEE MORE SHARING OPTIONS DESCREASE ARTICLE FONT SIZE INCREASE ARTICLE FONT SIZE The New Brunswick government says its finances improved slightly at the end of the most recent fiscal year, but the province still posted a record $1.3-billion deficit. The shortfall is more than double the $549-million deficit the Liberal government had projected in its March 2025 budget. Provincial revenues were almost $217 million less than expected, due to lower harmonized sales taxes along with less corporate and personal income taxes. Get daily Montreal news Get daily Montreal news delivered to your inbox so you'll never miss the day's top stories. SIGN UP FOR DAILY MONTREAL NEWSLETTER GET STARTED BY PROVIDING YOUR EMAIL ADDRESS, YOU HAVE READ AND AGREE TO GLOBAL NEWS' TERMS AND CONDITIONS AND PRIVACY POLICY. Meanwhile, expenses were almost $538 million more than expected, largely because of extra spending on health-care and social development. New Brunswick closed the fiscal year with a net debt of $13.9 billion. Finance Minister René Legacy says the government is committed to making the changes New Brunswickers expect despite pressure from U.S. trade policy. MORE ON POLITICS MORE VIDEOS Trump ‘comfortable’ with pause in Canada trade talks, Greer says Canada’s foreign minister set to speak after German trade, security talks Elenore Sturko’s roller-coaster political ride lands her as leader of CentreBC Quebec party leaders wrapping up another week of election campaign STORY CONTINUES BELOW ADVERTISEMENT “As costs and tariff pressures rise, we are looking at where (the) government can work more efficiently and (create) new opportunities to grow our economy and bring in new revenue,” the minister said in a statement. “We will continue to focus on what matters most to New Brunswickers while keeping a close eye on the bottom line.” Stick to the Facts Add Global News as a Preferred Source on Google to see more of our stories in your search results. JOURNALISTIC STANDARDS COMMENT REPORT AN ERROR © 2026 The Canadian…