Nova Scotia Deficit Forecast Increases, Finance Minister Expresses Concern

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Nova Scotia,Deficit,Finance Minister

Finance Minister Allan MacMaster announced an increased deficit forecast of $654 million for the 2024-25 fiscal year in Nova Scotia, citing higher department spending and slowing tax revenue. This marks a concerning trend as projected revenues are expected to be $70 million less than anticipated.

Nova Scotia's finance minister presented the province's capital plan for the upcoming fiscal year on Wednesday. Megan King has more on what was included, and what wasn't. – Feb 14, 2024In what’s become a September pattern in Nova Scotia politics, the province’s finance minister is again projecting a bigger deficit than anticipated in his spring budget.

MacMaster announced today the deficit forecast for 2024-25 has increased $187 million to $654 million on his $16.7 billion budget, due to higher department spending and a slowing flow of tax revenue.For news impacting Canada and around the world, sign up for breaking news alerts delivered directly to you when they happen.

 

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