Finance Minister John Lohr listens to a question from a reporter during a press conference at One Government Place on Feb. 18. Photo by Ryan Taplin /The Chronicle HeraldArticle contentA billion dollars.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY.Subscribe now to access this story and more:Unlimited access to the website and appExclusive access to premium content, newsletters and podcastsFull access to the e-Edition app, an electronic replica of the print edition that you can share, download and comment onEnjoy insights and behind-the-scenes analysis from our award-winning journalistsSupport local journalists and the next generation of journalistsSUBSCRIBE TO UNLOCK MORE ARTICLES.Subscribe or sign in to your account to continue your reading experience.Unlimited access to the website and appExclusive access to premium content, newsletters and podcastsFull access to the e-Edition app, an electronic replica of the print edition that you can share, download and comment onEnjoy insights and behind-the-scenes analysis from our award-winning journalistsSupport local journalists and the next generation of journalistsRegister to unlock more articles.Create an account or sign in to continue your reading experience.Access additional stories every monthShare your thoughts and join the conversation in our commenting communityGet email updates from your favourite authorsSign In or Create an AccountorArticle contentNova Scotia is projecting a record $1.225-billion deficit for the 2025-26 fiscal year, which would mark the first time the province’s annual deficit has surpassed decuplet digits. It’s an increase of nearly $528 million in additional spending from when the budget was tabled in February.Article contentArticle contentThe province said health-care costs account for 46 per cent of the overall budget, and health-care spending has increased seven per cent over original estimates.Article contentArticle content“Our health-care system is a priority,” Finance Minister John Lohr said Monday. “That will continue.”Article contentDuring the 1999-2000 fiscal year, the province reported a deficit of $797 million, which would equate to a $1.37-billion deficit in today’s inflation-adjusted dollars. But Monday’s forecast is by far the largest reported deficit the province has seen.Article contentFor Nova Scotia’s opposition parties, the projected deficit is alarming.Article content“It should set off alarm bells for this PC government,” Opposition and NDP Leader Claudia Chender said Monday. “That is an enormous amount of spending.Article content“This government has become masters of what I can only call creative accounting. We never know if a projection is going to swing wildly in one direction or another. But the bottom line is we have the most spending in history, and we don’t have a lot to show for it. We can’t sustain deficits like this.”Article contentInterim Liberal Leader Derek Mombourquette said Nova Scotians are taking on generational debt.Article content“You now have a billion-dollar deficit for a population of a million people. This is significant,” Mombourquette said.Article content“The economy is projected to be weaker, the population is stabilizing, and costs aren’t decreasing for people. This is a very concerning time and it’s something that Nova Scotians really need to start paying attention to.”Article contentThe fall session of the Nova Scotia Legislature opens Tuesday.Article contentMore to comeArticle content
It should set off alarm bells: Nova Scotia forecasts record deficit of $1.225 billion
