The province is forecasting a deficit of $97.6 million for 2015-16 that largely holds the line on spending while revamping some departments and tax measures including a film tax credit.
Overall departmental spending is $8.9 billion, up a scant 0.7 per cent over last year, which is mainly due to public sector wage increases.
The budget maintains a $24 million annual film tax credit for this year but restructures it.
But the government says the credit will be reduced to $6 million next year, a move it concedes will make the province less competitive with most other jurisdictions.
The government has also issued 163 layoff notices due to a reorganization of departments including the elimination of the Department of Economic and Rural Development and Tourism.