FREDERICTON – New Brunswick Finance Minister René Legacy has tabled the province’s budget for the 2025-26 fiscal year, which includes measures to help workers and businesses affected by U.S. tariff threats. Here are some highlights:
— Total spending is forecast to be $14.3 billion.
— The deficit is projected to be $549 million, which grows to $599 million when a $50-million contingency fund to cushion against the uncertainty of tariffs is included.
— Revenues are projected to be $13.8 billion and real gross domestic product growth is forecast at 1.1 per cent for 2025.
— Health care spending is to increase to $4.1 billion, which is about $293 million more than last year.
— The New Brunswick Housing Corp. budget increases by $36.6 million, up 18.6 per cent from the previous year.
— An increase of nearly $16.4 million to hire teachers to help address growth in student enrolment.
— An extra $22 million for nursing homes and specialized beds to support the province’s aging population and keep wait-lists from growing.
— New Brunswick will spend $9 million on transitional housing and outreach services for domestic violence victims.
This report by The Canadian Press was first published March 18, 2025.
