Via the NS Government as part of the new budget
“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 Harbour Bridges starting April 1.”
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Budget 2025-26: Unlocking Our Potential
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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 Harbour Bridges starting 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 of Budget 2025-2026 focus on laying the groundwork to unlock the province’s potential, making life more affordable and building a healthy population.
Laying the Groundwork to Unlock Our Potential
Budget 2025-26 lays the groundwork to unlock Nova Scotia’s potential:
-$8 million for 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 the 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
-$150,000 for a new Seafood Sector Strategy to map out future opportunities for growth, transformation and modernization
-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
-$39 million to continue supporting the Nova Scotia film industry, including $14 million to complete the Washington Black television series
-$35 million for Nova Scotia’s Climate Change Plan for Clean Growth, to help Nova Scotia businesses create green jobs and adapt to the impacts of climate change.
-$30.1 million to continue More Opportunity for Skilled Trades (MOST) tax refund program for workers under the age of 30 in high-demand occupations, including skilled trades, film and video, and nurses
-$500,000 for Fundy Ocean Research Centre for Energy to support research for the tidal energy industry
Making Life More Affordable
Budget 2025-26 is helping Nova Scotians with affordability through lower taxes, higher wages and more housing:
-more than $500 million in tax saving measures including reducing the HST by 1 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.
-increasing minimum wage by $1.30 to $16.50 on October 1, starting with an increase to $15.70 on April 1
-$61.3 million increase this year, for a total of $80 million, to expand the school lunch program to an additional 77 schools, reaching approximately 29,000 more students. This brings the program to all middle and junior high schools ahead of schedule
-removing the tolls from the Angus L. Macdonald bridge and the A. Murray MacKay Bridge in Halifax on April 1
-$88 million to build, renovate and maintain public housing across the province
-$73.9 million to provide 8,900 rent supplements to Nova Scotians, an increase of 400 over last year
-rebate of the Provincial HST on new purpose-built rental housing. Applies to projects that begin construction on or after September 14, 2023, until December 31, 2030, and completed construction by December 31, 2035. Estimated $54.1 million in 2025-26.
-$24.8 million increase to transition people with disabilities from large institutions, like residential care facilities and long-term care homes, into the community of their choice
-$10.5 million increase, for a total of $130.5 million this year, to support Nova Scotians experiencing or at risk of homelessness
-$6.9 million increase to the Backyard Suites Incentive Program, for a total of $20 million over three years
-$5 million increase, for a total of $10 million this year, for post-secondary student housing
Building a Healthy Population
Building a stronger economy, improving healthcare and making our communities safer all lead to a healthier population:
-$750.9 million for the Halifax Infirmary Expansion Project and Cape Breton Regional Municipality Health Care redevelopment project (capital)
-$131.9 million for construction and renewal of other hospitals and medical facilities including projects in Amherst, Yarmouth, South Shore and at the IWK Health Centre in Halifax (capital)
-$90.9 million for One Patient, One Record to enable a digitally supported patient-centered health system (capital)
-$54 million ongoing funding for initiatives that move the province toward publicly funded universal mental health and addictions care for all Nova Scotians
-$19 million for free parking at Nova Scotia Health hospitals and the IWK for employees, patients and visitors
-$26.9 million to deliver free shingles vaccine to Nova Scotians age 65 and older
-$45.8 million toward the plan to build 5,700 new and replacement long-term care spaces by 2032, with five on track and expected to open this year
-more than $100 million in continued supports to address Gender-based Violence and Intimate Partner Violence across various departments
-a new team with a dedicated focus on addressing Gender-based Violence and Intimate Partner Violence
-$25 million increase to stand up the Department of Emergency Management and the Nova Scotia Guard, and strengthen how the province responds to emergencies
-$22.4 million for year two of the Cellular for Nova Scotia Program, a $70.4 million multi-year commitment to expand access to cellular service across the province (operating and capital)
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
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