This year, the province will spend a projected $548 million on provincial debt interest.
Atlantic Canada Prosperity
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.
An income gap of thousands of dollars per year makes a big difference for living standards and quality of life.
The average family in the province earning $117,564 will pay an estimated $56,588 in total taxes.
The average family in the province earning $112,418 will pay $49,623 in total taxes.
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