New Brunswick·New
The New Brunswick government has confirmed the $1.3 billion deficit it was projecting for last year, according to audited financial statements.
Financial statements confirm large fiscal shortfall in 2025-26
Jacques Poitras · CBC News
· Posted: Sep 25, 2026 11:40 AM EDT | Last Updated: 1 hour ago
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New Brunswick Finance Minister René Legacy has argued the Liberals have had to make up for years of under-spending by the former Progressive Conservative government. (Michael Heenan/CBC)
The New Brunswick government has confirmed the $1.3 billion deficit it was projecting for last year.
Audited financial statements for 2025-26 released Friday show the shortfall landed almost precisely where it was projected to in the third quarter of the fiscal year.
The figure was actually $25 million lower than that projection.
Finance Minister René Legacy initially forecast a $549 million deficit for last year.
But by February 2026 that projection had ballooned to $1.3 billion.
The fiscal year ends March 31 but traditionally it takes the province until September to come up with a final accounting, which is audited by the auditor-general.
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