Saint John Region Chamber of Commerce Encouraged by Foundational Measures in 2025-2026 New Brunswick Budget

FOR IMMEDIATE RELEASE

Saint John, NB – March 19,2025

The Saint John Region Chamber of Commerce acknowledges the provincial government’s 2025-2026 budget, recognizing its efforts to address key economic challenges while setting a foundation for future growth in our region. Finance Minister René Legacy’s announcement of a projected $549 million deficit is concerning but not unexpected. The Chamber remains committed to working with government and business leaders to ensure policies that support fiscal responsibility while fostering economic resilience and prosperity for the Saint John region.

“This budget provides a foundation for stability during a time of economic uncertainty,” said Shannon Merrifield, CEO of the Saint John Region Chamber of Commerce. “While we would have liked to see deeper tax reform and a clear roadmap for productivity enhancement, we appreciate the government’s focus on mitigating tariff risks, improving housing, and strengthening core public services.”

Addressing Tariff Vulnerabilities

Saint John’s economy is more vulnerable than any other city in Canada to U.S. trade policies, particularly in energy, seafood, and forestry exports. The $112 million Tariff Response Package, including $25 million through Opportunities NB, demonstrates the government’s commitment to supporting businesses facing trade-related challenges. The Chamber recognizes the increased investment in economic development and is requesting active engagement to ensure best practices on how these funds will be allocated and invested.

“We understand the complexities of balancing economic priorities, and while the deficit presents challenges, we are focused on the opportunities to drive sustainable growth,” said Merrifield. “It is essential that strategic investments continue to support businesses, workforce development, and infrastructure in our region”.

Investments in Public Services & Workforce Development

The Chamber supports the budget’s focus on strengthening public services, which are essential for workforce attraction and business growth:

● Healthcare & Education Investments: Funding for healthcare worker recruitment ($2M), physician retention ($15.9M), and education support ($32.4M for classroom resources, $4M for teacher recruitment) ensures a strong talent pipeline for businesses.

“A thriving economy depends on a healthy workforce,” added Shannon. “Investments in healthcare and education directly impact business growth by ensuring companies can attract and retain skilled workers.”

Conclusion: A Foundation for Future Growth

While the 2025-2026 New Brunswick Budget may not introduce sweeping transformations, it provides stability and essential investments to support businesses and communities. We look forward to continuing to partner with our provincial government and key stakeholders as we advocate for transformational steps that will make our region and province the best place in Canada to operate a business. These include, but are not limited to the following:

• Creating a bold vision for tax reform that drives investment and reduces burdens on businesses.
• Strong, targeted investments in innovation, digital adoption, and productivity.
• Developing a long-term strategy supporting interprovincial and overseas trade.
• Major regulatory and process changes to speed up housing, business approvals, and infrastructure projects. We have appreciated the government’s willingness to partner with organizations like ours as we navigate the geopolitical uncertainties of 2025 and are eager to work together to share the needs of our 600+ members in the months and years ahead.

Media Contact:
Shannon Merrifield
CEO
Saint John Region Chamber of Commerce
smerrifield@thechambersj.com 1-506-271-4744