Nova Scotia is over $20 billion in debt.
That’s up $1.7 billion from last year, according to Auditor General Kim Adair’s 2025 Financial Report.
Spending on the Halifax Infirmary project, the Cape Breton Healthcare re-development and on long-term care homes were factors.
In a recap video, Adair says higher spending can weaken a government’s financial position.
“Because more of its future revenues will be needed to pay for past debts. That could negatively impact Nova Scotia’s ability to provide services to its citizens without additional borrowing or increasing revenues,” said Adair.
Annual spending is $18 billion, up 43 percent from four years ago.
“Unanticipated revenue from the original budget was $1.3 billion, most of which was applied to spending outside the original budget.
Adair’s report also sheds light on topics of interest, like the impact of removing tolls from Halifax bridges.
That’s between $25-37 million of revenue not being collected.
