The Nova Scotia Budget is out. "Balanced" though it's supposed to be, spending will out pace economic growth.Schedule 15 shows that the programs expenditures forecast for 2006-2007 is $6.495 billion. The 2007-2008 programs expenditures estimate is $6.917 billion. That's an increase of 6.5%. Meanwhile, the Nova Scotia Real GDP Growth rate is forecast to be 2.2% for both 2007 and 2008 (on p. B8).
Yesterday, the Province embarked on a "sustainability" campaign. Given that Nova Scotia's population rate is stagnant and that retirees rate is increasing, one just has to wonder about the commitment to economic sustainability.
I guess sustainable means using money from Alberta and Ontario. Sustainable off the backs of others.
Nevertheless, budgets are political documents. The Tories are in a minority position (propped up by a Liberal shell) and this might just be all they could do. It's no doubt better than what the NDP would have done.
