Nova Scotia surplus rises to $149 million, but tax revenue lower than expected
HALIFAX — The Nova Scotia government closed the books on the 2016-17 fiscal year Thursday, registering a surplus of nearly $150 million — about $110 million more than the Liberals touted on the campaign trail in May.
Finance Minister Karen Casey attributed the change to the difficulty in predicting revenues, and said figures last December indicated the province needed a more cautious approach to spending.
“During the period from mid-January till March we had new information which showed that those numbers were more positive, so with that volatility it is hard to do any kind of prediction,” said Casey.
She rejected any notion that the lower figure suited the government’s positions on such things as health care spending and holding the line on public sector contracts ahead of the May 30 provincial vote.