Public accounts for 2025-26

Release

Department of Finance and Treasury Board

September 25, 2026

FREDERICTON (GNB) – The government has released consolidated financial statements for the fiscal year ending March 31, 2026, which include an improvement of about $25 million since the third quarter.

The 2025-26 fiscal year concluded with a deficit of $1.3 billion, compared to the budgeted deficit of $549 million.

“New Brunswickers have told us clearly what matters most to them: better health care and help with the rising cost of living,” said Finance and Treasury Board Minister René Legacy. “That’s where we are focused, and making progress on these priorities takes investment.”

Revenues were $216.6 million less than budget, primarily due to lower-than-expected revenue related to corporate income taxes, harmonized sales tax and personal income tax.

Expenses were $537.9 million more than budget, largely due to overages in health and social development.

Net debt at the end of the fiscal year was $13.9 billion.

Despite growing economic pressures from tariffs, Legacy said the government is committed to making the changes needed to ensure the expectations of New Brunswickers are met.

“At the same time, we have to be responsible with every dollar,” said Legacy. “As costs and tariff pressures rise, we are looking at where government can work more efficiently and creating new opportunities to grow our economy and bring in new revenue. We will continue to focus on what matters most to New Brunswickers while keeping a close eye on the bottom line.”

The consolidated financial statements were prepared by the Office of the Comptroller and comprise government departments, as well as other organizations such as NB Power, school districts, health authorities and not-for-profit nursing homes.

The statements were independently audited by the Office of the Auditor General, which provided an unmodified opinion for the fiscal year.

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2025-26 consolidated financial statements

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