BILL NO. 36
(as introduced)
2nd Session, 62nd General Assembly
Nova Scotia
63 Elizabeth II, 2014
Balanced Budget Act
Tim Houston
Pictou East
First Reading: October 14, 2014
Second Reading:
Third Reading:
Explanatory Notes
Clause 2 limits the year-over-year percentage increase in government spending to an amount equal to the estimated percentage increase in the population of Nova Scotia and the rate of inflation as measured by the change in the Consumer Price Index.
Clause 3 prohibits the Minister of Finance from tabling a budget that is not balanced.
An Act to Require Balanced Budgets
and Limit Government Spending
Be it enacted by the Governor and Assembly as follows:
1 This Act may be cited as the Balanced Budget Act.
2 Chapter 2 of the Acts of 2010, the Finance Act, is amended by adding immediately after Section 29 the following Section:
(2) Subsection (1) does not apply
(a) to an expenditure required in the fiscal year because of a natural or other disaster in the Province that could not have been anticipated and that affects the Province or a region of the Province in a manner that is of urgent public concern; or
(b) if the Province has experienced negative growth in its gross domestic product in the two immediately preceding quarters.
3 Chapter 2 is further amended by adding immediately after Section 54 the following Section:
This page and its contents published by the Office of the Legislative Counsel, Nova Scotia House of Assembly, and © 2014 Crown in right of Nova Scotia. Created October 14, 2014. Send comments to legc.office@novascotia.ca.
