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New Brunswick's deficit for last year, less than forecast: audited statements

FREDERICTON – The New Brunswick government ran a deficit of $260.5 million in 2015-16 — $66 million less than budgeted — but the Opposition says the net debt is the true indication of the Liberal government’s performance.

Finance Minister Cathy Rogers has released the audited financial statements for last year.

The deficit figure does not include the government’s contingency fund.

The Opposition Tories point out the net debt increased by $541.4 million during the year that ended on March 31, $105.9 million more than had been budgeted.

Rogers says revenues for the year were $78 million higher than budgeted.

She says the consolidation of nursing home services and higher revenue from personal income tax were contributing factors, but were offset by lower than expected net income of NB Power.