The province is forecasting it will end the current fiscal year in the black. In a second update on
Finance and Treasury Board Minister and Inverness MLA Allan MacMaster (Communications Nova Scotia photo)
the 2021-22 budget, Finance and Treasury Board Minister Allan MacMaster says it shows signs the overall economy has been recovering despite continued uncertainty caused by the COVID-19 pandemic. MacMaster says the latest update forecasts government will post a surplus of $108.2 million.
MacMaster, the MLA for Inverness says a factor in Nova Scotia’s strong economic position is the province’s ability to avoid extended lockdowns from COVID-19. He says that is reflected in higher revenues in HST, personal income and corporate tax revenue, as well as motive fuel tax.
Total revenue is projected to be $12.8 billion, up $1 billion from the budget.