The region's four provinces have the four highest provincial business income tax rates in Canada.
Atlantic Canada Prosperity
The Nova Scotia government projects net debt will increase by 23 per cent over three years.
On a per-person basis, government spending will increase to $19,238, the highest of any province in Canada.
The province's program spending this year will increase by 6.2 per cent, a rate faster than population growth plus inflation.
This year, the province will spend a projected $548 million on provincial debt interest.
The province's net debt is projected to rise by more than $6 billion.
According to the budget, the province will run its second consecutive deficit in 2024/25.
The province has some of the highest personal income taxes in North America.
In Nova Scotia, government spending as a share of the economy averaged more than 60 per cent from 2007 and 2019.
The province's net debt is $31,749 per person, by far the highest level of any province in Canada.
Subscribe to the Fraser Institute
Get the latest news from the Fraser Institute on the latest research studies, news and events.