NS Finance Minister: Deficit Eliminated Next Year

The Nova Scotia government has tabled a $9.5-billion budget with a projected deficit of $211.2-million for 2012-13. Finance Minister Graham Steele says it means the government will balance its books next year.

Budget Highlights: Personal income tax reductions expected to return $7.5 million to about 78,000 Nova Scotians.

Small business tax rate reduced by half a percentage point from four per cent to 3.5 per cent, saving businesses about $10 million annually.

Overall spending for health care up 2.5 per cent at $3.9 billion. The Province will also close its office in Ottawa with a savings of $500,000 annually.