POLITICS
04/03/2012 01:35 EDT | Updated 06/03/2012 05:12 EDT

Nova Scotia budget highlights include personal income tax cuts, lower deficit

HALIFAX - Highlights of the Nova Scotia spring budget introduced Tuesday:

— Deficit to drop to $211.2 million for the 2012-2013 fiscal year, down from the $260.8-million deficit the province reported last month.

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— Personal income tax reductions expected to return $7.5 million to about 78,000 Nova Scotians.

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— Small business tax rate reduced by half a percentage point from four per cent to 3.5 per cent, saving businesses about $10 million annually.

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— Overall spending for health care up 2.5 per cent at $3.9 billion.

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—Province will close its office in Ottawa with a savings of $500,000 annually.