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N.S. budget highlights

Last Updated: Friday, March 23, 2007 | 7:04 PM AT

Here are the highlights of Friday's Nova Scotia budget:

  • Expenditures at $7.9 billion; surplus of $118.4 million — $44 million higher than forecast.
  • Net debt at $12.4 billion, $20 million lower than forecast for 2007-2008, which the province describes as a significant milestone.
  • No tax increase and no program cuts.
  • Province to opt in to the federal government's new equalization formula, which will generate $79 million in additional revenue this year. But the province will have to abandon its offshore energy accord with Ottawa for at least this fiscal year.
  • Most user fees and government charges to increase by 6.8 per cent, effective April 1, generating $9.3 million for the province.
  • Tobacco prices to increase one cent per cigarette or the equivalent of $2 per carton.
  • Aviation fuel taxes to increase from 0.9 cents per litre to 2.5 cent per litre.
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