Finance Ministers Highlight Economic Concerns

Nova Scotia Finance Minister Neil LeBlanc put forward Nova Scotia's economic concerns at a meeting of provincial and territorial finance ministers in Vancouver on Oct. 11.

The ministers were meeting to discuss how the current economic downturn might affect provincial budgets. Mr. LeBlanc said all ministers called for an early meeting with federal finance minister Paul Martin to discuss their concerns about fiscal stability in light of increasing economic uncertainty.

The provincial and territorial finance ministers will meet with Mr. Martin in December to discuss shared fiscal challenges, such as sustaining health care and other vital programming in the face of mounting cost pressures and a weaker revenue outlook.

Mr. LeBlanc said he and his counterparts support the federal government's effort to improve security measures around the country and to ensure that our close trade relationship with the United States is maintained.

The minister also raised the issue of higher tobacco taxes at yesterday's meeting.

"Nova Scotia is interested in pursuing higher tobacco taxes, " Mr. LeBlanc said. "However, it would have to be done in collaboration with other provinces. I will continue to urge the other provinces and the federal government to work with us on a co-ordinated approach."

He said a balance is required between raising prices so that smoking is a deterrent, especially to youth, and keeping prices low enough to prevent the creation of an illegal tobacco market.

Mr. LeBlanc had the tax issue placed on the agenda in tandem with the Nova Scotia Department of Health's announcement of the province's first comprehensive tobacco strategy. The strategy is aimed at helping Nova Scotians stop smoking or refuse to start.

NOTE TO EDITORS: To arrange a telephone interview with Neil LeBlanc, who is returning from Vancouver today, please call Linda Laffin at 902-483-0574.