- Nova Scotia Canada - Government of Nova Scotia

2013 Budget Highlights

Budget Overview

Budget 2013–2014 is balanced. This year, the government will continue to make strategic investments to create good jobs, grow the economy, and help make life better for families.

Budget 2013–2014 includes $9.5 billion in revenues, $9.5 billion in total spending, and a bottom-line surplus of $16.4 million.

With the province’s finances now back to balance, Nova Scotia is poised to take advantage of the opportunities that lie ahead.

Creating good jobs and growing the economy

Nova Scotia is beginning to turn the corner toward greater prosperity and game-changing opportunities. jobsHere is helping hundreds of small businesses get started, expand into new markets, make productivity upgrades, and train employees now and for the future. Budget 2013 will:

Providing better care sooner

The province’s Better Care Sooner plan is working. Budget 2013 makes new investments to keep emergency rooms open, to better meet patients’ needs, and to improve children’s health. Budget 2013 will:

Making life more affordable for Nova Scotians

The province is committed to making life more affordable for families. Budget 2013 puts more money back into the hands of families, seniors, low-income Nova Scotians, and students. Budget 2013 will:

Putting kids and learning first

Nova Scotia has a plan to help every student succeed. Together with teachers, parents, school boards, communities, and children, the province’s Kids & Learning First plan is preparing our young people for success through a greater focus on the early years, the basics, and safer, better schools. Budget 2013 will:

Focus on women

Budget 2013 makes strategic investments in areas that benefit women’s health, protect the most vulnerable women in society, and continue to support the creation of good jobs throughout Nova Scotia. Budget 2013 will:

Back to balance

Nova Scotia’s fiscal plan is working. Spending restraint is the cornerstone of Back to Balance, even in light of bet-ter-than-expected revenues. Everyone shared in the challenge of getting Nova Scotia back to balance. Our fiscal discipline will allow the province to reduce the HST by one percentage point in 2014 and by another in 2015.

Getting back to balance, and staying there, is critical to ensuring that the services Nova Scotia’s families rely on are there when they need them, now and for generations to come. The province has:

Net Debt to GDP (in Billions)
Fiscal Year08-0909-1010-1111-1212-13(f)13-1414-1515-1616-17
Net Debt 12.31812.99212.75813.24413.88413.98914.09314.34214.41
Nominal GDP 35.39234.92136.35137.01638.22739.09940.28342.05443.099
Net Debt to GDP34.80%37.20%35.10%35.80%36.30%35.80%35.00%34.10%33.40%


NS Economic Forecast - Data in per cent change unless otherwise noted

Nominal GDP
Real GDP ($2007, chained)3.32.33
Compensation of Employees23.33.8
Household Final Consumption3.73.83.8
Retail Sales1.0a3.83.7
Consumer Price Index2.0a1.52.1
Residential Investment55.35.2
Net Operating Surplus: Corporations8.97.55.6
Exports of Goods to Other Countries -
Population (000s) 948.7a947.9947.8
Employment 0.6a-0.20
Unemployment Rate 9.0a9.19.2

a - Actual

Budget Summary - (in thousands)
Total Revenues9,270,3139,180,3349,481,173
Total Expenses9,561,3329,605,5709,524,191
Consolidation Adjustments79,81968,83059,407
Provincial Surplus (Deficit)-211,200-356,40616,389
Provincial Revenue Sources
Personal Income Tax2,195,3002,133,6862,278,408
Corporate Income Tax398,450437,129473,946
Harmonized Sales Tax1,642,9001,658,2511,721,788
Motive Fuel Tax254,100246,633251,019
Tobacco Tax211,000210,329227,883
Other Tax Revenue157,640151,100151,418
Registry of Motor Vehicles110,279117,527121,239
Royalties — Petroleum27,67222,71920,090
Other Provincial Sources124,576129,421140,229
TCA Cost Shared Revenue3,6254,3058,260
Other Fees and Charges67,59866,20861,707
Prior Years’ Adjustments---42,407---
Interest Revenues74,07069,80768,841
Sinking Fund Earnings108,348108,767107,102
Ordinary Recoveries 276,422285,697266,919
Net Income from Government Business Enterprises350,993350,431350,313
Total — Provincial Sources6,002,9736,034,4176,249,162
Federal Sources
Equalization Payments1,593,8201,578,8291,703,711
Canada Health Transfer796,959795,017833,125
Canada Social Transfer321,943322,957329,101
Offshore Oil and Gas Payments146,059146,05989,461
Crown Share19,62811,6969,358
Other Federal Sources23,71218,64518,616
TCA Cost Shared Revenue73,15126,15122,682
Prior Years’ Adjustments  --- -840--- 
Ordinary Recoveries  292,068247,403225,957
Total — Federal Sources3,267,3403,145,9173,232,011
Communities, Culture and Heritage58,66557,30560,009
Community Services977,924937,615896,573
Economic and Rural Development and Tourism187,353176,106130,060
Education and Early Child Development1,112,8301,118,8071,105,659
Fisheries and Aquaculture8,7998,7989,044
Health and Wellness3,861,5133,859,7233,910,819
Labour and Advanced Education 346,208346,688353,412
Assistance to Universities347,619381,697337,152
Natural Resources95,68599,50085,072
Public Service174,314163,614165,931
Service Nova Scotia and Municipal Relations275,909274,909247,315
Transportation and Infrastructure Renewal421,617420,744425,458
Restructuring Costs198,724165,234202,480
Refundable Tax Credits73,500123,529129,356
Pension Valuation Adjustment71,485104,062110,793
Debt Servicing Costs881,701896,814888,891
Total — Expenses9,561,3329,605,5709,524,191

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