New Brunswick budget: Debt keeps rising as Liberals spend on education, tourism
FREDERICTON — New Brunswick’s government is piling on more debt in its 2017-18 budget as the Liberals opt for targeted spending increases rather than a quicker assault on the deficit.
Finance Minister Cathy Rogers’ $9.4 billion budget released Tuesday hikes spending by just under four per cent despite the province’s fiscal challenges.
“New Brunswickers want their government to get our finances in order, but not at the expense of our social programs,” she said in her budget speech.
The deficit is projected to be $192 million by the end of March 2018. The total debt is rising to $14.4 billion — up almost $1 billion from last year’s net debt, although some of that is due to an accounting change.