Highlights from Nova Scotia Provincial Budget 2023-2024 – Impact on Construction Industry
Earlier today, the government of Nova Scotia released its 2023-2024 budget. With revenues of $14.2 billion and expenses of $14.4 billion, Budget 2023-24 estimates a deficit of $278.9 million after consolidation. Spending in healthcare is estimated at $6.5 billion, an increase of more than $1.2 billion from two years ago.
Action for Healthcare:
- $275.1 million for the Halifax Infirmary expansion and Cape Breton Regional Municipality healthcare redevelopment projects
- $91 million for construction and renewal of other hospitals and medical facilities, including projects in Bridgewater, Pugwash, Yarmouth, Amherst and at the IWK Health Centre
- $33.2 million for Bayers Lake Community Outpatient Facility construction
A Healthy Economy:
- $20.9 million to deliver the first year of the More Opportunity for Skilled Trades program, which provides workers in eligible skilled trades and film and video occupations under the age of 30 a refund on the provincial income tax paid on the first $50,000 of income
- $13.2 million to provide funding to small- and medium-sized employers to hire first-year apprentices in Red Seal trades
- $943,000 more as part of a multi-year plan to modernize Nova Scotia’s apprenticeship system
- $1 million more to expand the team that supports immigration and population growth
- $3 million for energy and resource development initiatives
- $1.8 million to support high-growth business and entrepreneurship development
- $498.5 million for Nova Scotia’s roads, highways and bridges, including $60 million more for secondary highways and $15 million more for gravel roads
- $14 million more for the Rural Impact Mitigation program for the maintenance and repair of rural roads, for a total of $36 million this year
- $15.3 million more for public housing repairs, for a total of $21 million
- $13.1 million more to address the wait list for home repair and adaptation programs
- $2.5 million for initiatives to accelerate housing developments of all types and at all income levels in the Halifax Regional Municipality
- $240.8 million to build and renovate schools across the province, including $24 million more for capital repairs and $40 million for new modular learning spaces
- $97.2 million for NSCC’s Sydney waterfront campus and three student housing projects
- $41.4 million to move forward on actions under Our Climate, Our Future: Nova Scotia’s Climate Change Plan for Clean Growth
- $2 million in ongoing funding to grow the electric vehicle charging network, offer rebates to install charging infrastructure and increase the adoption of electric vehicles
- $15 million more as the provincial share in green, transit and rural projects under the Investment in Canada Infrastructure Program
Resources for Budget 2023-2024
2023-2024 Capital Plan
Last week, the provincial government released its 2023-2024 Capital Plan.
The government’s capital spending program for the coming year will advance healthcare projects more quickly and provide Nova Scotians modern schools, safer highways, renewed provincial parks and improved local roads and other infrastructure. Capital Plan 2023-24 will invest more than $1.6 billion to start new projects and continue work on previously announced projects.
- $275.1 million for the Halifax Infirmary expansion and Cape Breton Regional Municipality healthcare redevelopment projects.
- $91 million for construction and renewal of other hospitals and medical facilities, including projects in Bridgewater, Pugwash, Yarmouth, Amherst and at the IWK Health Centre.
- $33.2 million for Bayers Lake Community Outpatient Facility construction.
Other capital plan highlights include:
- $240.8 million to build and renovate schools, including an increase of $24 million for capital repairs and $40 million for new modular units.
- $97.2 million for Nova Scotia Community College’s Sydney waterfront campus and three residence projects.
- $21 million for public housing repairs, an increase of $15.3 million.
- $10.2 million for provincial park repairs and upgrades, an increase of $9.2 million.
Capital Plan 2023-24 invests $498.5 million in projects outlined in the Five-Year Highway Improvement Plan, including $60 million more than last year for secondary highways and $15 million more for gravel roads.