Finance Minister Siobhan Coady says now is not the time to make dramatic changes to bring the budget back to balance.

The province is borrowing $4.1 billion in the current fiscal year, with net debt pegged at $19.1 billion for 2025-26.

2025 was the year government previously projected to return to surplus, but Coady says with the unpredictable nature of Trump’s tariffs and their economic impact, government felt it more important to focus on affordability and tariff mitigation. She calls the government’s approach “reasonable and prudent” to weather this year and put the necessary supports in place.

“We’re within 3 per cent of revenues to balance. So, while we could force it to be in balance, I don’t think that’s in the best interest of the people of the province.”

However, those looking for detail on how the $200 million in tariff contingency will be used didn’t find it in yesterday’s budget.

The province previously set the money aside as part of interim supply. Coady says it’s hard to say how, or whether the money will be used. She says it will all depend on the potential impact of Trump’s tariffs.

“We want to be able to be very responsive, and nimble, should something happen that we need to address. That’s not to say that we will spend the $200 million that’s to say that we have it available should we need to spend it.”