HALIFAX: Nova Scotia released its second update on Budget 2025-26: Unlocking Our Potential on Dec. 18.
The province is projecting a deficit of $1.29 billion before contingency, up $64.6 million from the September forecast update.
“Our Province continues to work hard to grow our economy and create more opportunities for Nova Scotians,” said John Lohr, Minister of Finance and Treasury Board.
“Our deficit comes from investing in healthcare and cutting taxes to make life more affordable.”
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In 2025, the government
– cut the Need a Family Practice Registry waitlist from 110,000 people in January to 68,490 as of December 1
– surpassed targets for healthcare enrolment, with about 1,900 first-year students starting healthcare programs at six universities this fall
– cut the HST by one per cent and reduced income and small business taxes, a $500 million investment that will save the average family over $1,000 a year
– paved the way for new housing, achieving 167 per cent of the 2028 goal- expanded the school lunch program, which offers a pay-as-you-can model in 334 schools across the province.
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To cover the costs of fighting wildfires and drought in the summer of 2025, the Province drew $24.9 million from the $200-million contingency established in Budget 2025-26.
Quick Facts:
– additional appropriations of nearly $268 million were required for 10 departments, bringing the totalfor 2025-26 to $1.33 billion to date
– the Province provides forecast updates to the public every September, December and as a final forecast with the following year’s budget; the final report on the budget is presented through public accounts the following summer