• Health spending helped push New Brunswick deficit to record $1.3B in last fiscal year

  Source: New Brunswick - Regional News
  Date: 2026-09-25 13:46:00.0
  Tags: [New Brunswick, Finance, Healthcare, Social Services, Economy, Taxation]

  The Government of New Brunswick announced a record deficit of $1.3 billion for the previous fiscal year, more than double the $549-million shortfall projected in the March 2025 budget by the Liberal government. Provincial revenues fell short by nearly $217 million due to lower harmonized sales taxes and reduced corporate and personal income taxes. Conversely, expenses exceeded expectations by almost $538 million, primarily driven by increased spending on healthcare and social development. Finance Minister René Legacy noted that the province closed the fiscal year with a net debt of $13.9 billion while facing ongoing cost pressures and potential U.S. trade tariffs.

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• CRA still owed over $5B in COVID-19 benefits sent to ineligible recipients

  Source: CBC Politics
  Date: 2026-09-18 19:50:00.0
  Tags: [National, Taxation, Finance, Economy, Social Services]

  The Canada Revenue Agency (CRA) reported that as of July 31, Canadians still owe $5.56 billion in outstanding debt for COVID-19 pandemic benefits—specifically under the Canada Emergency Response Benefit (CERB) and Canada Recovery Benefit (CRB)—after being deemed ineligible. The total debt has nearly halved from over $10 billion reported the previous November, with approximately $3.671 billion successfully recovered since collections began in 2022. The remaining balance includes $2.91 billion for CERB and $1.81 billion for CRB, though figures continue to fluctuate due to ongoing repayments, reassessed eligibility, and write-offs for permanent financial hardship recommended to Employment and Social Development Canada (ESDC). The CRA maintains a flexible collection approach with extended timelines and interest-free repayment arrangements, while retaining the right to pursue legal action against debtors with the verified ability to pay.

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