Budget 2023

Summary: New Brunswick Budget 2023

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Finance Minister Ernie L. Steeves tabled New Brunswick’s 2023-24 budget (NB Budget 2023) on March 21, 2023. 

NB Budget 2023 projects a surplus of $862.6 million for the 2022-23 fiscal year, compared to a $35.2 million surplus projected in the previous budget.

Fiscal projections for the next three years are as follows: 

Year Projected surplus (deficit)
2023-24 $40 million
2024-25 $27 million
2025-26 $39 million

Key insights include: 

  • No changes to the corporate or personal tax rates, or the $500,000 small business limit.
  • The adoption of the federal backstop for carbon tax (to replace the provincial pricing system).
  • Accelerated implementation of reduced property tax rates.
  • Other notable items such as significant investments in health care and housing.
Download the summary: New Brunswick Budget 2023

Download the summary: New Brunswick Budget 2023

NB Budget 2023 projects a surplus of $862.6 million for the 2022-23 fiscal year, compared to a $35.2 million surplus projected in the previous budget.
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Visit our Budget 2023 hub to learn more about all federal and provincial budgets.

Disclaimer  

The information contained herein is general in nature and is based on proposals that are subject to change. It is not, and should not be construed as, accounting, legal or tax advice or an opinion provided by Doane Grant Thornton LLP to the reader. This material may not be applicable to, or suitable for, specific circumstances or needs and may require consideration of other factors not described herein.