FREDERICTON, N.B.: The Canadian Taxpayers Federation is slamming Premier Susan Holt for breaking her election promise by borrowing more than half a billion dollars in Budget 2025.

“Holt promised not to run up government debt during the election, but now she’s throwing that out the window in her very first budget and putting taxpayers on the hook for even more irresponsible borrowing,” said Devin Drover, CTF Atlantic Director. “New Brunswick families have to live within their means, but Holt is basing her budget on taking out loans with no plan to pay them back.

“Here’s the worst part: The loans Holt is taking out don’t even cover the interest charges on the government’s current debt.”

The Holt government is planning to borrow more than half a billion dollars this year and plans to take out even more loans for the next four years. Interest charges will now cost taxpayers $673 million this year, which is about $785 per person.

That’s a direct reversal from the Liberal election platform, which pledged no increases in government debt or borrowing.

Meanwhile, despite rising costs and the threat of tariffs, the budget provides no tax relief for New Brunswickers.

“Rather than making tough decisions, Holt has abandoned her election promise to voters while doing nothing to help them,” said Drover. “Not only is she racking up more debt, but she’s refusing to provide any meaningful relief to taxpayers who need it the most.”