Province of New Brunswick Election 2024: Could a Change in Government Upset the Balance?

On October 21, 2024, the Liberal Party, led by Susan Holt, secured a majority in the Province of New Brunswick's (rated A (high), Stable) general election, taking 31 of 49 possible seats. With this victory, the Liberal Party displaced the Progressive Conservative Party that led the province for two consecutive terms.

Key highlights of this commentary include:

-- Campaign commitments focused on healthcare, affordability and housing, education, and economic development, among other themes.
-- Increase in expenditures from Liberal commitments to be offset by own-source revenues and faster economic growth.
-- We will monitor the government's ability to balance risks and maintain fiscal balance through the medium term for any impact on the credit ratings.