3 things to know this week

NOVA SCOTIA’S BUDGET UPDATE

Nova Scotia’s economic position has improved since July, but the COVID-19 pandemic continues to have a significant impact on the province’s fiscal forecast.

The government is forecasting a deficit of $778.8 million for the 2020-21 fiscal year, which is a $833.9-million change from the $55 million surplus anticipated in February, and a $74-million change from the July forecast.

“Nova Scotia, like the rest of the world, is continuing to experience an unprecedented economic shock due to the COVID-19 pandemic,” said Finance and Treasury Board Minister Karen Casey, when presenting government’s second Budget 2020-21 update.

Additional appropriations are required for 10 departments for a total of $298.8 million. The majority of expenses relate to supporting Nova Scotians and sustaining the economy during COVID-19.

TEMPORARILY OFF THE ICE

The Maritime Junior Hockey League’s (MHL) six Nova Scotia teams return to competition after Jan. 10 following a pause in sport competition across the province.

The province put province-wide restrictions on aspects of sports starting on Dec. 21 to curb the spread of COVID-19 during the holidays. Among the temporary rules, sports practices have been limited to 25 participants without physical distancing. Games and tournaments are not permitted.

TAX CREDIT CHANGES

Volunteer firefighters who responded to at least 20 per cent of emergency calls during 2020 will remain eligible for a $500 refundable tax credit.

The Finance and Treasury Board is amending regulations to the Volunteer Firefighters and Ground Search and Rescue Tax Credit to waive the requirement for volunteer firefighters to attend 20 per cent of meetings and training sessions.

An estimated 7,400 volunteers in the province benefit from the credit each year.

The requirement did not apply to ground search and rescue workers, who will continue to be eligible for the credit as usual.