Reduction to transfers not as bad as first thought: Nova Scotia finance minister

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HALIFAX - Nova Scotia's finance minister says federal officials have assured her that a reduction in federal transfer payments to the province won't be as bad as she initially expected.

Earlier this week, Maureen MacDonald said the reduction could have an impact on the NDP government's bid to balance its budget by next spring.

However, MacDonald now says the province will be getting about $15 million less than it expected, a relatively small reduction considering the province has a $9-billion budget.

Still, MacDonald says every dollar counts as the province's projected deficit for this fiscal year is $277 million — a $66-million increase when compared to the budget tabled last April.

MacDonald says departmental spending is under control, but revenue has dropped by $90 million, mainly because of a $61-million decrease in projected income tax revenue.

Geographic location: Nova Scotia

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