Province Hopes Fund First Step To Action

Today's announcement of an Atlantic innovation fund will hopefully set the stage for concrete federal action toward Nova Scotia's leading priorities in health care and transportation, said Premier John Hamm.

"I am pleased that the federal government has finally responded to Nova Scotia's call to make strategic investments in our economy," said the premier. "I trust the prime minister is sending a message that he will also respond very soon to address the number one priority of Nova Scotians a quality, sustainable health care system."

Premier Hamm stressed that he was encouraged by the fund's emphasis on trade and investment, skills training and entrepreneurship and research and development. The need for such a focus was noted in the recently released Nova Scotia Knowledge Economy Report Card. It said Nova Scotia had a lower rate of exports than the rest of Canada, an increased demand for skilled workers throughout the economy and lower expenditures on research and development than the national average.

"Properly administered and implemented, this fund has the potential to make a real difference in addressing these structural problems in our economy," said the premier. "Through government's enhanced Intergovernmental Affairs office, we will pursue these new opportunities for federal support and partnerships with the provincial government."

While supportive of the overall thrust of the federal initiative, the premier highlighted the federal government's continued lack of significant, long-term funding of Nova Scotia's share of the national highway system - a key element of developing the province's economy.

"Less than 10 cents out of every dollar collected by the federal government in Nova Scotia gas taxes will be spent on highway construction this year -- that imbalance cannot continue," said the premier. "The federal government can make a lasting contribution to the province's economy by making a meaningful, long-term investment to our national highway system."

Staff from Nova Scotia Economic Development and Intergovernmental Affairs will review the details of the fund's components over the next several days.