Press Release
Chamber Congratulates Province for Forecasted Balanced Budget
December 19, 2008- Halifax, NS – The Halifax Chamber of Commerce is pleased to hear that the Province is still forecasting a surplus this year of $212.9 million. Controlled program spending and cost cutting will help Nova Scotia weather out the global economic storm.
The Chamber has long advocated that the Province keep a tight control of finances. “We are especially pleased to hear that the Province has stayed true to its expenditure management plan in the Department of Health, ” states Valerie Payn, Chamber President.
Health care costs are of particular concern for the Chamber. “Nova Scotia spends an above average portion of its budget on health. In fact, when compared to the other provinces, we are still big spenders,” says Payn. Nova Scotia is the second highest health spenders as a portion of GDP, at 14.6%.
“The fact that health care costs are forecasted to come in below budget is a sign that government is serious about controlling expenditures,” points out Payn. The Chamber has been a strong advocate for accelerating the implementation of all 103 recommendations contained within the Corpus Sanchez Report, in order to ensure the long-term sustainability of our health care system.
The Chamber looks forward to the Province’s stimulus package which is scheduled to follow the federal budget. Savings realized in other areas will free up funds to match Federal infrastructure dollars. “Now is the time to capitalize on these opportunities,” says Payn.
As stated earlier this week, the Chamber is looking for the Province to invest in areas that are capable of long term pay-offs, including infrastructure, Gateway and encouraging the establishment and expansion of growing industries.
“Although tough decisions had to be made, it’s a good time to be in business in Nova Scotia,” says Payn.
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For more information contact:
Janet Creamer
Communication Manager
Halifax Chamber of Commerce
Office: 902-481-1240
Cell: 902-499-6494



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