Nova Scotia’s debt second highest in Canada

Nova Scotia’s auditor general announced Jan. 23 that the province’s net debt is the second highest in Canada.

Jacques Lapointe reported that over the past ten years, the total net debt has increased by $1.6 billion, totalling nearly $14 billion. At the end of the 2012-13 fiscal year, the net debt stood at $14,832 for every resident in the province.

In January 2012, Lapointe warned that government debt would saddle future generations with the bill.  At the time, the NDP accused Lapointe of operating in an platform meant for politicians.

This year, however,  Conservative Leader Jamie Baillie agreed with Lapointe’s report, labelling it as a call to action.

Nova Scotia’s per capita debt has increased by 13 per cent in the past four years.

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