New Brunswick's projected deficit falls to $1.31 billion on higher tax revenue

New Brunswick now projects a $1.31-billion deficit for 2026-27, nearly $350 million less than its first-quarter forecast of $1.66 billion, Finance Minister Rene Legacy said Friday. The March budget had projected a record $1.39 billion. Corporate income tax revenue is up $103.4 million and personal income tax revenue $63 million, while social development is $164 million over budget and health $78 million over. Net debt is projected to reach $15.7 billion by year end. Progressive Conservative Leader Daniel Allain said taxpayers, not the government, brought the deficit down, calling it the second straight year of a deficit around $1.3 billion.