Province Approves Additional Appropriations for 2007-08

The province has approved $300 million in additional program and capital expenses for the fiscal year ending March 31.

"Thanks to a forecasted increase in provincial revenues for 2007-08, we've been able to make some major investments throughout the province," said Jamie Muir, chair of Treasury and Policy Board and acting Finance Minister. "Students, in particular, will benefit from these additional investments as we move forward in our plan to educate to compete."

Total provincial revenues for 2007-08 are forecast to be $8.26 billion, up from $8.02 billion at budget time. This is a three per cent increase of about $244 million.

Compared to the last public forecast in December, there have been increases in prior years' adjustments, personal and corporate income tax revenues, and petroleum royalties.

The 2007-08 appropriations include:

• $165 million in assistance for students and universities

• up to $75 million to set up potential Crown Share trust funds for education, energy, and protected land

• $26 million for capital requirements such as roads and buildings throughout the province

• $20.8 million for economic development, including the Industrial Expansion Fund, and various community development projects

• $15 million to Service Nova Scotia and Municipal Relations for a first responder's program and an assessment services transfer

• $12 million to Health Promotion and Protection for the Halifax Regional Municipality Canada Games/Mainland Common and $1.1 million for the provincial immunization program

• $2.9 million for community museums and strategic community investments in tourism, culture and heritage

• additional funding for agriculture, natural resources, and transportation and infrastructure renewal

Nova Scotia's legislature annually authorizes spending budgets -- or appropriations -- for individual departments, groups of departments or other categories. Where final net expenses in each area exceed the amount authorized, an additional appropriation is required.

Other changes in appropriations may be required once department budgets are finalized for Public Accounts, the province's annual financial statements.