Budget 2025-26: Unlocking Our Potential Invests in Central Nova Scotia

February 18th, 2025

Strengthening economic resilience, making life more affordable and investing in safe and healthy communities are key budget priorities this year.

Finance and Treasury Board Minister John Lohr tabled Budget 2025-26: Unlocking Our Potential today, February 18.

“We may not be able to control outside influences, but as a province, we can control how we respond, where we invest and what we focus on next,” said John Lohr, Minister of Finance and Treasury Board. “Budget 2025-26 will continue to move Nova Scotia forward. It builds on progress already made and delivers on promises to lower taxes, hire more doctors, increase wages and strengthen our economy. This is how we will help unlock Nova Scotia’s full potential.”

Budget 2025-26 makes life more affordable with more than $500 million in tax cuts, the largest in the province’s history. An average Nova Scotian family will save more than $1,000 this year. Tolls will also be removed from the Halifax-Dartmouth bridges April 1.

All Nova Scotians over age 65 will qualify for a free shingles vaccine. Employees, patients and visitors will also gain free parking at all Nova Scotia Health hospitals and the IWK.

Budget 2025-26 includes the largest capital plan in the province’s history with $2.3 billion in funding that will help stimulate the economy.

With revenues of $16.5 billion and expenses of $17.6 billion, Budget 2025-26 estimates a deficit of $697.5 million (after consolidation and adjustments) before contingency.

Highlights the will benefit central Nova Scotia include:

removing the tolls from the Angus L. Macdonald Bridge and the A. Murray MacKay Bridge on April 1
$88 million to build, renovate and maintain public housing across the province
more than $500 million in tax saving measures including reducing the HST by one per cent starting April 1, 2025, increasing the basic personal amount for all Nova Scotians from $8,744 to $11,744 starting January 1, 2025, and implementing the first year of indexing tax brackets starting January 1, 2025. The combined measures are expected to save an average Nova Scotian family more than $1,000 this year
support for Nova Scotia’s small businesses to give them a competitive edge, including reducing the small business tax rate from 2.5 per cent to 1.5 per cent April 1 and increasing the small business tax rate income threshold from $500,000 to $700,000
increasing minimum wage by $1.30 to $16.50 on October 1, starting with an increase to $15.70 on April 1
$210.0 million to build and renovate schools, including St. Joseph’s-Alexander McKay Elementary School in Halifax, which will open this year
a $61.3-million increase this year, for a total of $80 million, to expand the school lunch program to an additional 77 schools, reaching about 29,000 more students; this brings the program to all middle and junior high schools ahead of schedule
$73.9 million to provide 8,900 rent supplements to Nova Scotians, an increase of 400 over last year
a $10.5-million increase, for a total of $130.5 million this year, to support Nova Scotians experiencing or at risk of homelessness, including, $1.8 million to support the tiny homes community in Lower Sackville for up to 70 people
$750.9 million for the Halifax Infirmary expansion project and Cape Breton Regional Municipality healthcare redevelopment project
$26.9 million to deliver free shingles vaccine to Nova Scotians age 65 and older
$19 million for free parking at Nova Scotia Health hospitals and the IWK for employees, patients and
$45.8 million toward the plan to build 5,700 new and replacement long-term care spaces including, Moody Hall, Opal Ridge and Rosecrest Meadows, all expected to open this year in Halifax Regional Municipality
$25 million to stand up the Department of Emergency Management and the Nova Scotia Guard and strengthen how the province responds to emergencies
an $8-million investment in Nova Scotia Loyal to make it easier for Nova Scotians to buy local
$3 million for preparatory work to create a successful pathway to offshore wind development and harness the power of Nova Scotia’s wind resources
$500,000 to advance Nova Scotia’s Critical Minerals Strategy to seize global opportunities to develop critical resources
$200,000 to diversify Nova Scotia’s international seafood markets and respond to emerging risks
$150,000 for a comprehensive, cross-government trade action plan to facilitate internal trade, enhance productivity and drive economic growth in critical sectors.

Quick Facts:

the final forecast update for 2024-25 reports a provincial surplus of $82.4 million
additional appropriations related to the 2024-25 forecast total $272.6 million since the December forecast

Additional Resources:

A full list of investments is included in the Budget 2025-26 highlights documents available at: https://novascotia.ca/budget

-via Government of Nova Scotia