Darrell Dexter

Nova Scotia Premier Darrell Dexter met with his caucus and cabinet for one last time on Tuesday. (CBC)

Nova Scotia Premier Darrell Dexter held his last formal cabinet and caucus meeting on Tuesday following the New Democratic Party's defeat in the provincial election last week.

Many in the room won't be returning when the legislature reconvenes. Dexter lost his own Halifax-area seat of Cole Harbour-Portland Valley as the New Democrats were relegated to third-party status with seven elected members.

He said while it's time for him to move on from politics, he does not plan to immediately resign as party leader .

"I haven't had a lot of time for self-reflection. I'm going to take some opportunity to do that and you know we'll see. The path of life often is not a straight one,” he said.

Tories want to give Liberals a chance

Progressive Conservative Leader Jamie Baillie met with his caucus on Tuesday.

Nova Scotians elected 11 Tory candidates in last Tuesday's vote, moving the party from third party status to Official Opposition.

Baillie promised his team will keep the Liberals on track, although he said they will give the new government a break.

PC caucus

Jamie Baillie meets with his caucus on Oct. 15, 2013. (Jean Laroche/CBC)

"We respect the decision that Nova Scotia voters made in the election last week and we intend to give the government a chance to do its job. We will certainly hold them to account when they go off track, but for now we want to give them a chance to do what they said they would do," he said.

Baillie said he wants to see McNeil’s government lower power rates, balance the budget and eventually lower taxes.

The Liberals took 33 of the legislature's 51 seats in the election.

Dexter said he plans to meet with Premier-designate Stephen McNeil to discuss the transition.

The actual handover of power won't happen for at least another week.

2009 and 2013 Nova Scotia political map

With files from The Canadian Press