Some workers remain unemployed because the benefits are generous.
Atlantic Canada Prosperity
In 2019, equalization represented 15.5 per cent of provincial revenue in Nova Scotia.
The province's net government debt may rise 17 per cent in 2020/21.
While the regulatory change is welcome news, significant reforms are still required to restore investor confidence.
Budget include an additional $185 million in transfers from Ottawa.
Forecasts project a -5.1 per cent decline in the province's GDP.
Government workers in Atlantic Canada received 11.9 per cent more (on average) in wages than their private-sector counterparts.
Nova Scotia’s net debt is projected to eclipse $17 billion this year.
RBC forecasts an $800 million provincial deficit this year, Scotiabank forecasts $970 million.
The province projects a $535 million increase in net debt this year alone.
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