New Brunswick's expected deficit falls to $1.31 billion

New Brunswick now expects a deficit of $1.31 billion for the 2026-27 budget year. A deficit is when a government spends more than it takes in. Finance Minister Rene Legacy shared the number on Friday. The forecast after the first three months was $1.66 billion, almost $350 million more. Taxes on companies and people brought in more money. But social development and health spent more than planned. The province's total debt may reach $15.7 billion. Opposition leader Daniel Allain said taxpayers, not the government, lowered the deficit. He said this is the second year with a deficit around $1.3 billion.