Halifax Examiner

An independent, adversarial news site in Halifax, NS

An obscure shift in Securities regulations will cost Nova Scotia down the road

A $77.1 million windfall helps balance the books in this year's provincial budget. That's the amount the federal government is paying Nova Scotia as incentive to disband the provincial Security Commission and join a national securities regulator. But that one-time payment comes at the cost of $15 million in revenue generated by the provincial commission annually, year after year. Because of the change, the province will be a net loser in just five years.

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A scan of the provincial government’s Budget Estimates suggests the claim of a balanced budget and $29 million surplus is dependent on two future events. The first is $20 million collected from the tax on cannabis sales which has been delayed until late summer — has been dutifully noted. The second — a “one- time...

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