HALIFAX – Nova Scotia Finance Minister John Lohr has tabled the province’s budget for the 2025-26 fiscal year, which includes tax cuts and measures to protect the economy if U. S. President Donald Trump makes good on his threat to impose 25 per cent tariffs on Canadian goods. Here are some highlights from the provincial budget:
— Total spending is forecast to be $17.6 billion, with a projected deficit of $697.5 million.
— $2.3 billion in capital project spending to “help stimulate the economy” amid the threat of U.S. tariffs.
— $200-million reserve fund to assist if provincial revenues fall due to potential tariffs; deficit could increase if fund is used.
— One percentage point cut in the harmonized sales tax, to 14 per cent, by April 1.
— Health spending to rise by eight per cent to almost $6 billion.
— $27 million for shingles immunization program; $19 million to remove hospital parking fees; and $39 million to drop tolls on two Halifax bridges.
— $25 million to set up the Department of Emergency Management and a volunteer agency, both of which are to help the province manage effects of climate change.
— Net debt jumps to almost $23 billion in 2025-26 from $19.8 billion.
This report by The Canadian Press was first published Feb. 18, 2025.
