NS Budget 2023 projects a deficit of $259.4 million for the 2022-23 fiscal year, compared to a $506.2 million deficit projected in the previous budget.
Fiscal projections for the next four years are as follows:
| Year | Projected surplus (deficit) |
| 2023-24 | ($278.9 million) |
| 2024-25 | ($464.3 million) |
| 2025-26 | ($610.7 million) |
| 2026-27 | ($499.2 million) |
No changes to the personal or corporate tax rates, or the $500,000 small business limit.
Expanded eligibility for the More Opportunity for Skilled Trades (MOST) tax incentive.
Other notable changes such as significant investments in health care, housing, education, child care, and environmental initiatives.
NS Budget 2023 projects a deficit of $259.4 million for the 2022-23 fiscal year, compared to a $506.2 million deficit projected in the previous budget.
Visit our Budget 2023 hub to learn more about all federal and provincial budgets.
Disclaimer
The information contained herein is general in nature and is based on proposals that are subject to change. It is not, and should not be construed as, accounting, legal or tax advice or an opinion provided by Grant Thornton LLP to the reader. This material may not be applicable to, or suitable for, specific circumstances or needs and may require consideration of other factors not described herein.
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