On March 18, 2025, Finance and Treasury Board Minister René Legacy presented the 2025–2026 New Brunswick budget. Titled “Driving change, delivering progress,” the budget projects a deficit of approximately $549 million and provides for significant investments in economic resilience, healthcare, housing, and education.
In response to recent U.S. tariffs on Canadian imports and the federal government’s retaliatory surcharges, the province has included funding in its budget to help New Brunswickers mitigate the potential impact of these measures.
This year’s budget contains no new taxes or tax increases.
Tariff Support
The budget includes two tariff support programs—totaling $162 million—to help the province mitigate the impact of current and looming tariffs. A $112 million tariff response support package has been created, which includes $25 million in direct support for business to be administered by Opportunities New Brunswick. In addition, a $50 million contingency fund has been established to help the province address any further economic issues resulting from tariffs. The government also noted that, should the tariff situation be resolved in the short term, the contingency fund will be redirected to other programs.
More Information
Further information on New Brunswick's 2025–2026 budget may be found on the province’s website.
To read key updates from all of Canada’s latest provincial budgets, please visit our Key Changes | 2025 Canadian Federal and Provincial Budgets page.
If you have questions about how any of the changes proposed in recent budgets might impact your organization, please do not hesitate to contact Ryan TaxDirect® at taxdirect@ryan.com or 1.800.667.1600.
- Topics
- Customs Duty
- New Brunswick