New Brunswick Forecasts $599M Deficit as US Tariff Threat Looms

Premier of New Brunswick Susan Holt, accompanied by other Council of the Federation members, speaks to reporters at the Mayflower Hotel in Washington, on Feb. 12, 2025. The Canadian Press/AP-Ben Curtis

The New Brunswick government tabled a $14.3-billion budget Tuesday that has been driven deep into deficit by a promised increase in health-care funding and a contingency fund to deal with U.S. tariff threats.

Finance Minister René Legacy’s budget forecasts a $549-million deficit that swells to nearly $600 million when the tariff contingency fund is added.