Nova Scotia finance minister says cost pressures, lower revenues to hit budget
Posted Mar 14, 2014 06:41:43 AM.
This article is more than 5 years old.
HALIFAX – Nova Scotia’s finance minister says wage and other cost pressures will add to the fiscal challenges the provincial government faces.
Diana Whalen says she has been telling people during pre-budget public consultations that poor economic growth continues to affect government revenue.
Whalen says any savings from a Liberal promise to trim $28 million from government coffers will be offset by program costs and recent wage settlements that are entering their second and third years.
She says despite that, civil service job cuts are not a priority in this year’s budget.
The last fiscal update Whalen released in December projected a $481.7 million deficit for 2013-14 due to a large unfunded liability in the public service pension plan and a drop in government revenue.
She will conclude pre-budget consultations Monday in Yarmouth.
