Financial Measures (2019) Act Introduced

Finance and Treasury Board Minister Karen Casey introduced the Financial Measures (2019) Act today, April 4.

The act provides the legislative authority to implement measures in Budget 2019-20 and legislative measures which have financial consequences. It is a routine part of the budget process.

The act transfers responsibilities of the Public Accountants Board to Chartered Professional Accountants Nova Scotia, completing the merger of accounting bodies which began in 2015. It phases out the former Equity Tax Credit for companies in December 2019, amends the Companies Act to protect against fraud and tax evasion, winds up the Nova Scotia Health Research Foundation as part of the province’s plan to establish Research Nova Scotia and includes other administrative changes.

“Budget 2019-20 continues to build on a strong foundation for financial health as the result of past balanced budgets, while strengthening programs and services valued by Nova Scotians,” said Karen Casey, minister of Finance and Treasury Board.

Budget 2019-20 is focused on four key areas:

• improving access to health care, including further developing collaborative care teams, creating more doctor residency spaces and increasing mental health supports
• investing in education and preparing youth for the workforce, including expanding pre-primary, continuing to implement recommendations from the Commission on Inclusive Education and increasing the operating budget for Nova Scotia’s universities
• creating the conditions for economic growth, including enhancing export development programs, creating tax credits to encourage investment in new and growing businesses and investing in the competitiveness of key sectors
• supporting people and communities, including increasing programs for children and adults with disabilities, investing in poverty reduction initiatives and supporting domestic violence prevention

The budget contains $691.3 million for capital projects including schools, roads and highways, and an investment of $156.9 million to support the largest health-care redevelopment projects in the province’s history.

For Budget 2019-20 information, visit http://www.novascotia.ca/budget .