Promise History
1.04.03 - Balance the budget in each year of our mandate.
19-Mar-2025
We consider this promise to be broken. Obviously, a projected deficit of $550 million does not align with a promise of a balanced budget.
“In his first provincial budget, Finance Minister René Legacy is projecting a fiscal shortfall of $549 million in the 2025-26 fiscal year.
That deficit could go as high as $599 million if the province draws on a $50 million contingency fund it has set aside to help New Brunswick businesses and workers cope with the impact of U.S. tariffs.”
Holt Liberals project $549-million deficit in their first N.B. budget
14-Feb-2025
The Holt government is likely to break its promise to balance the budget. While the Liberals claim their pledge to avoid deficits doesn’t apply to the 2024-2025 fiscal year because it started under the previous Conservative government, this justification is a post-election amendment to their original promise. A deficit on March 31st will be considered a breach of that commitment.
“Finance Minister René Legacy told reporters it will be “difficult if not impossible” to balance the budget before the March 31 end of the fiscal year. (…) He also warned that he’s unlikely to be able to balance the budget next year either”.
N.B. deficit balloons to almost $400M
13-Dec-2024
Traces of this promise can be found in the mandate letter addressed to the Minister of Finance, René Legacy. Mandate letters define ministerial objectives. Therefore, this promise remains an ongoing priority, and we will monitor its implementation.
Mandate Letters- René Legacy
Susan Holt Commits to Balanced Budgets Throughout Mandate
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