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Increasing Revenue for NS with Smaller Deficit than Expected

By Caitlin Snow Dec 20, 2022 | 11:45 AM

The Nova Scotia Legislature (via Facebook)

Good news for our provincial budget.

Finance and Treasury Board Minister Allan MacMaster provided an update today saying, it seems strong economic activity has increased the revenue in NS allowing for more investments and cost of living support.

“This is a difficult time for many families, and we are helping Nova Scotians in a world that has become much more expensive and strengthening the programs they value,” said Minister MacMaster. “Stronger-than-expected economic activity has improved our fiscal situation, allowing us to provide more targeted support to people in need and invest in healthcare, long-term care, housing, and infrastructure and local roads today and over the coming months.”

The government is now forecasting a deficit of just over $140 million for the 2022-23 fiscal year, which is an improvement from a deficit of just over $360 million that was presented in March.

Total revenue is expected to be up $1.3 billion from the budget estimate.

The board provides budget updates to the public three times a year.


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