Nova Scotia Government Increases Deficit Forecast by $187 Million

Finance Minister cites higher spending and declining tax revenues as key factors in revised $654 million deficit projection.

The revised deficit for the 2024-25 fiscal year is now projected at $654 million, up from the initial $467 million forecast.
Finance Minister Allan MacMaster highlighted a $70 million shortfall in tax revenues compared to spring budget estimates.
Consumer demand has decreased, leading to a $44 million drop in harmonized sales taxes.
Unplanned expenditures, including $178.4 million for health spending, contribute to the increased deficit.
The provincial government has faced criticism for spending outside the legislative budget process, raising concerns over fiscal management.