Industry Highlights and Impacts from Nova Scotia Provincial Budget 2025-26

Strengthening our resilience

• $3 million for preparatory work to create a successful pathway to offshore wind development
• $500,000 to advance the Critical Minerals Strategy to seize global opportunities to develop critical resources
• $150,000 for a comprehensive, cross-government Trade Action Plan to facilitate internal trade, enhance productivity and drive economic growth in critical sectors

Support for local business and industry

• Support for Nova Scotia’s small businesses to give them a competitive edge:
  • reducing the small business tax rate from 2.5 per cent to 1.5 per cent April 1, 2025
  • increasing the small business tax rate income threshold from $500,000 to $700,000
• $49.5 million this year towards the province’s $100 million plan to create good-paying jobs in the skilled trades workforce
• $755,000 to continue increasing participation and retention of women working in the skilled trades and to help advance women in their apprenticeships, in partnership with the federal government
• $500,000 for Fundy Ocean Research Centre for Energy to support research for the tidal energy industry

Preparing the future workforce:

• $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
• $13-million commitment to create 3,244 paid internship opportunities for post-secondary students through Mitacs, an increase of 44 students

Lowering taxes

• 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
• Implementing the first year of indexing tax brackets starting January 1, 2025

More housing, faster

• $88 million to build, renovate and maintain public housing across the province – the first new public housing build in more than 20 years. Investments include:
  • $36.8 million for 222 public housing units – the third year of a now $94.9 million five-year investment (capital)
  • $10.6 million toward an additional 242 units to further expand public housing – the first year of a $136.4 multi-year investment (capital)
  • $31.6 million to modernize and renovate existing public housing units (capital)
  • $9 million increase for repairs and upgrades (operating)
• 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

Action for health

• $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)
• $42 million for Nova Scotia Health to repair and replace medical facilities (capital)

Safe and healthy communities

• More than $500 million for major 100-series highway construction projects, and repaving and structure work (capital)
• $85.9 million for planned work and repair for the Angus L. Macdonald bridge and the A. Murray MacKay Bridge
• 22.5 million for storm damage repairs (capital)
• $700,000 for pre-construction planning and design work to protect the Chignecto Isthmus