Atlantic Chamber Pleased with Investments Made in Budget 2024
2024 Provincial Budget Makes Key Investments in Housing and Health
Windsor, NS (February 29, 2024) – The Atlantic Chamber of Commerce (ACC) is pleased to see the Government of Nova Scotia continue to make critical investments in healthcare and housing. We are concerned with continued spending in other areas, a forecast of 30% increase in the province’s net debt over the next four years, with no measures to mitigate the increased cost of doing business.
Government estimates a deficit of $467.4 M for 2024–25 and emphasizes investments in housing, healthcare, and the economy. ACC applauds the proposal to index the Basic Personal Amount (BPA) and other tax credits but notes Nova Scotia’s BPA remains well below the national average and indexing alone will not relieve the burden on low-income earners.
“Nova Scotia’s budget reflects their economic and social realities” said Rhonda Tulk-Lane, CEO of the Atlantic Chamber of Commerce. “Government’s decision to invest in healthcare and housing is to be applauded, however, it is important for government not to lose sight of supporting small business facing increased operating costs and labour challenges.”
ACC recognizes the investments made by government for vulnerable sectors, enhancing skills, and preparing for the workforce of tomorrow. We support government’s allocations of:
- $46.4 M to increase participation and training of the skilled trades, including $27.2M for the More Opportunity for Skilled Trades tax refund program:
- $8.6M to support community settlement service organizations;
- A rebate of the 10% HST on construction of multi-unit apartments;
- $59.2M to support primary healthcare initiatives; and
- $15M to expand access to cellular service across the province.
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About the Atlantic Chamber – The Voice of Atlantic Canadian Business
The (ACC) is the largest accredited business organization of influence in Atlantic Canada representing more than 16,000 businesses and their 300,000 employees through its network of 90 Chambers of Commerce in the four Atlantic Provinces.
For more than 125 years, ACC has served as the voice of Atlantic Canadian business and actively partners with its members and other organizations to help create a strong, vibrant, and growing Atlantic Canada. ACC does this through strategic advocacy that shapes policy issues that impact business, the delivery of high-value programs and services to support business, and the facilitation and promotion of initiatives for business that contribute to sustainable economic growth in the region.
