Nova Scotia’s total gross expenses have grown from $5.32 billion in 1998-1999 to $8.32 billion in 2008-2009, an average annual increase of 4.7 per cent.
Total departmental expenses have grown from $4.41 to $7.35 billion, an annual average increase of 5.4 per cent. Health care continues to be the largest expense for Nova Scotia at $3.193 billion in 2008-2009 with an average annual growth of 6.6 per cent.
This is followed by Education at $1.491 million with an average annual growth of approximately 3 per cent, and Community Services at $908 million with an average annual growth of 4.1 per cent.
Other departments have grown in total from $998 million in 1998-1999 to 1.757 billion in 2008-1009, representing an average annual increase of approximately 7.3 per cent.
Total gross debt servicing costs were $909 million in 1998-99 and are $886 million today - a reduction of $23 million.
Total 2008-2009 expenses for the Province of Nova Scotia are forecast to be $8.317 billion, as of the December 2008 budget forecast update.
Departmental expenses make up 88.4 per cent of the total, at $7.349 billion. These include:
- $3.193 billion for Health, 38.4 per cent of total expenses
- $1.491 billion for Education and Universities, 17.9 per cent
- $908.5 million for Community Services, 10.9 per cent
- $1.757 billion for all other departments, or 21.1 per cent
Debt servicing costs are forecast to be $886.4 million, or 10.7 per cent of expenses.
The Pension Valuation Adjustment (PVA) is forecast to be $81.3 million, or 1.0 per cent.