spent $3.2 billion less than budgeted last year — at least when a large tobacco settlement and some delays to expensive projects are factored in. After a full accounting of the province’s 2025/26 fiscal year spending, the deficit shrank from the original $10.9 billion shortfall to a more modest $7.7 billion. While the revision includes a one-time $2.561 billion tobacco settlement added to the books after the budget was released, provincial coffers were also boosted by better-than-expected economic growth and tighter spending. The province had budgeted $15.4 billion for capital projects, but spent just $11.4 billion. Conservative Finance Critic Peter Milobar said the government is using the tobacco settlement to “artificially” depress the deficit numbers to have a “momentary look of fiscal management.”