Nova Scotia’s budget will be tabled ‘early’ in the spring session, according to Finance Minister John Lohr.
The latest deficit forecast is $1.4 billion for this fiscal year, Premier Tim Houston said in January.
Recently, S&P Global downgraded the province’s credit rating, citing a failure to meet previous budget targets.
Lohr says when the Houston government took over, they had to fix a ‘lack of investment’ in healthcare, housing and affordability.
“We are going to continue to invest in those things. We know the bond agencies want to see progress in certain areas, and we’re working hard on those too,” said Lohr after Cabinet outs last week.
Lohr acknowledged it’s a challenging time financially, but remains confident in the future of the province.
“We’re addressing deferred maintenance in those areas, we know we’re doing what Nova Scotians need, and there’s a big upside, and I’m optimistic about natural resource development and defense spending.”
The spring session begins on February 23.
Comments