N.B. government projects larger than expected surplus for 2019-20

New Brunswick Government

The New Brunswick government is projecting a $38 million surplus for fiscal 2019-20, compared to the budgeted surplus of $23.1 million.

In a fiscal update released Wednesday, it also says the net debt is projected to decrease by $63.8 million, which would be an improvement of $14.6 million over budget.

However, Finance and Treasury Board Minister Ernie Steeves says the Tory minority government is not in the position to spend more.

Steeves says the government must continue to make responsible choices to get its fiscal house in order so it can reduce the province's net debt and lower taxes.