Balanced Budget and Economic Stimulus Highlight State of the Province Address

NOTE: The text of the State of the Province Adress and a video of the speech are available at www.gov.ns.ca/premier/speeches/2008-12-04-StateProv.asp .

In his annual State of the Province Address, Premier Rodney MacDonald said a balanced budget and one of the largest infrastructure programs in Nova Scotia's history will see the province through the world-wide economic downturn.

"Our province is well positioned to weather the global economic uncertainty," Premier MacDonald said. "Government is prepared to take decisive action to help Nova Scotians through what will be a difficult time."

Premier MacDonald said government will resist the temptation to go into deficit. He announced that, on Dec. 19, Finance Minister Michael Baker will present an update of the province's finances and the budget will be balanced.

To stimulate the economy, Premier MacDonald said government will invest in infrastructure programs from one end of the province to the other. He noted that the Department of Finance estimates that for each dollar spent on infrastructure, $1.50 is generated throughout the economy.

"Our investments will put Nova Scotians to work, build and modernizing roads, public buildings and community infrastructure," said Premier MacDonald. "The jobs associated with these projects have the power to transform a community."

Premier MacDonald also called for action on Atlantic Gateway projects and said detailed business cases are being prepared so strategic infrastructure partnerships can move forward.

The premier said Nova Scotia will overcome the challenges presented by global economic turmoil.

"Our budget will be balanced and prudent investments will help keep people employed," he said. "Working Nova Scotians will build infrastructure in their communities that will provide benefits for many years."