With less than a week to go before the official start of the election campaign, the Progressive Conservatives and Liberals are fighting over taxes.

The Liberals released their plan to bring in $63 million in revenue by taxing businesses and the wealthy.

Brian Gallant on abortion

Brian Gallant and the Liberals released their plan to bring in 63 million dollars in revenue by taxing businesses and the wealthy. (CBC)

Liberal Leader Brian Gallant said if he becomes premier, he'll raise taxes on the wealthiest one per cent of New Brunswickers and he'll reverse a $34 million property tax cut to businesses, brought in by the PC government two years ago.

Gallant said even some of the province's biggest corporations said they didn't want that tax cut.

"The business council even said that they were surprised that they got this tax break, and that it wasn't necessary," said Gallant.

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Finance Minister Blaine Higgs says the property tax break was worthwhile, because most of the savings went to small businesses. (CBC)

But Finance Minister Blaine Higgs said the break was worthwhile, because most of the savings went to 16,000 small businesses.

Higgs said New Brunswick Business Council CEO Susan Holt once spoke in favour of the cut.

"She supported it and said 'This does make sense, I didn't realize it had that sort of benefit to small business,'" said Higgs.

Susan Holt

Susan Holt, the president and CEO of the New Brunswick Business Council, said the council doesn't like the property tax cuts, but the Liberal tax plan doesn't go far enough to increase revenues. (CBC)

​Higgs was referring to comments Holt made to the CBC acknowledging the savings to small businesses.

However, on Thursday Holt maintained the government would have been better off keeping the tax and using the revenues to pay down the deficit.

"Does the NBBC like prop tax cuts or not? Will prop tax cuts balance the budget? Nope," she said on Twitter.

She also said the Liberal plan doesn't go far enough to increase revenues, but at least Gallant is putting out specific proposals with specific dollar figures.

She said other political parties should do the same.