Unpaid Debts to Government

The Nova Scotia government today reported that it has cleared its books of uncollectible accounts. Each year the government writes- off amounts owed by companies or individuals as a result of bankruptcies, unpaid fines, thefts and miscellaneous items.

Finance Minister Neil LeBlanc said the majority of the debts written off this year can be traced back to transactions made from 1996 to 1998. Even with extensive collection efforts, there was no hope of collecting anything further given the age of the accounts, the minister said.

"Obviously we aren't happy when we have losses -- but people must understand that what Nova Scotia receives in revenue and job creation as a result of our various programs is many times greater than the amount we lose," said Mr. LeBlanc.

About $11.4 million was written off due to bankruptcy, receivership, foreclosures and business closings. More than $4.8 million was attributable to unpaid fines, uncollected fees and taxes.