New Brunswick’s Liberal government has updated its financial outlook, projecting an even bigger deficit than it did in August.
Minister now projects $834.7M shortfall this year and won’t rule out hitting $1B
Jacques Poitras · CBC News
· Posted: Nov 14, 2025 12:30 PM EST | Last Updated: 7 minutes ago
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New Brunswick Finance Minister René Legacy says ‘difficult choices’ lie ahead, which could mean rejecting even higher spending requests from government departments. (Michael Heenan/CBC)
The Holt Liberal government is sinking further into red ink this year, projecting an $834.7 million deficit that the finance minister acknowledges could go even higher.
Revised projections for corporate and personal income tax revenue, and higher than projected spending in health care and social programs, led to the new calculation.
In August the projection was $668.7 million, which was itself worse than what Finance Minister René Legacy forecast in his first budget last March.
Legacy blamed the previous government’s spending restraint — which he said starved public services of the money needed to keep up with a growing population — for the impetus to spend now.
“While this is not the fiscal situation we wanted to be in,
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