N.S. budget highlights
Last Updated: Friday, March 23, 2007 | 7:04 PM AT
The Canadian Press
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.
© The Canadian Press, 2007
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