HomeDiagramsDatabaseMapsForumSkyscraper Posters
     
Welcome to the SkyscraperPage Forum.

Since 1999, SkyscraperPage.com's forum has been one of the most active skyscraper enthusiast communities on the web.  The global membership discusses development news and construction activity on projects from around the world, alongside discussions on urban design, architecture, transportation and many other topics.  SkyscraperPage.com also features unique skyscraper diagrams, a database of construction activity, and publishes popular skyscraper posters.

Go Back   SkyscraperPage Forum > Regional Sections > Canada > Atlantic Provinces > SSP: Local Halifax > Business, Politics & the Economy

Reply

 
Thread Tools Display Modes
     
     
  #41  
Old Posted Jul 22, 2010, 2:39 AM
fenwick16 fenwick16 is offline
Registered User
 
Join Date: Feb 2007
Posts: 4,438
The fact that EnCana is building an underwater pipeline to bring their gas to market is a positive sign. Especially if other companies could tie into it in the future. Once the EnCana gas comes on line, the Nova Scotia gas production should actually peak again.
Reply With Quote
     
     
  #42  
Old Posted Jul 22, 2010, 3:36 AM
fenwick16 fenwick16 is offline
Registered User
 
Join Date: Feb 2007
Posts: 4,438
If you look at the numbers below and compare it to the provincial populations, New Brunswick is just as much of a manufacturing powerhouse as Ontario and Quebec. Nova Scotia needs to investigate how New Brunswick has accomplished this so that Nova Scotia can create more manufacturing jobs.

Nova Scotia was a prosperous part of Canada back in the 1800's, so it can achieve that prosperity again. Having a major port in Halifax is a big advantage since there are goods coming into the province from places such as India, Vietnam and China that can be assembled into value-added products in Nova Scotia and then be shipped throughout North America. (just as long as the province doesn't sink to the bottom of the Atlantic Ocean ). Over the next 50 years or so, fossil fuels, such as gas and oil, are going to increasingly go out of favour, just like coal did (although it is still a big energy source, how many people talk about exploiting the coal in Cape Breton?). However, having said this, with all the gas and coal around Nova Scotia where is the oil?

As oil becomes more scarce and expensive there will be an incentive to switch to other power sources. Nova Scotia has the Bay of Fundy that can be harnessed for electricity, and is close to the energy graving, highly populated, eastern seaboard. If the Bay of Fundy can be cheaply harnessed then the electricity generated could be used to produce hydrogen fuel from water by electrolysis - http://www.renewableenergyworld.com/rea/tech/hydrogen (Nova Scotia also has lots of water that could be separated into hydrogen and oxygen - forget natural gas, water is everywhere).

Nova Scotia just needs more of the "can do" spirit that Ontario, Quebec and New Brunswick have.


Last edited by fenwick16; Jul 22, 2010 at 3:52 AM.
Reply With Quote
     
     
  #43  
Old Posted Jul 22, 2010, 4:45 AM
halifaxboyns halifaxboyns is online now
Registered User
 
Join Date: Feb 2010
Location: Calgary
Posts: 3,566
My guess in NB would be that some of the manufacturing would come frmo ship building perhaps? I would think that would fall into the category. Plus with all the stuff needed for Point Lepreau upgrades; I suspect most of it is being built in NB.

For Nova Scotia - I suspect if even some portions of the federal ship building contracts (either patrol vessels or supply) end up in Halifax; you'll see the stats for Nova Scotia rise; especially when Daewoo arrives.

Like I've said eariler; if the government really wants to boost these numbers - I would suggest creating a green job tax credit and payroll rebate for many of the Daewoo parts suppliers and convince them to move in. Wind farm components could all done done in the New Glasgow area and Port Hawksberry - since they are on the rail line and then shipped where needed.

You could also do the same for solar and tidal power in the valley - manufactuer the components and parts and then build them near the Bay of Fundy.

As people have pointed out - oil will become more difficult to find and more risky. Encana made over a Billion $ this quarter; so I have more faith in them to invest in Nova Scotia. I suspect some other companies will look into the offshore oil in NS and invest as the value of oil and gas goes up.
Reply With Quote
     
     
  #44  
Old Posted Jul 22, 2010, 12:03 PM
fenwick16 fenwick16 is offline
Registered User
 
Join Date: Feb 2007
Posts: 4,438
Wholesale trade is up significantly in Nova Scotia over the past year. Nova Scotia has seen a 20.1% increase between May 2009 and May 2010. Only PEI saw a bigger increase - http://www.statcan.gc.ca/daily-quoti...0721a2-eng.htm
Reply With Quote
     
     
  #45  
Old Posted Jul 22, 2010, 5:42 PM
halifaxboyns halifaxboyns is online now
Registered User
 
Join Date: Feb 2010
Location: Calgary
Posts: 3,566
From the Halifax Herald...

Moving to Newfoundland
ExxonMobil’s new president shifts operations from Halifax to St. John’s
By JUDY MYRDEN Business Reporter
Thu, Jul 22 - 6:07 AM

ExxonMobil’s Venture O-32 satellite platform, part of the Sable gas system. (PETER PARSONS / Staff)







THE NEW president of ExxonMobil Canada will be moving to Newfoundland and Labrador instead of Nova Scotia.

The current president is based in Halifax but incoming president Meg O’Neill will move operations to St. John’s, the company confirmed Wednesday.

After more than a decade having its presi­dent located in downtown Halifax, the world’s largest oil and gas company is mov­ing its Canadian president to where there is more activity.

ExxonMobil is involved in Newfound­land’s Hebron, Hibernia and Terra Nova offshore oilfields.

“The decision to have the incoming presi­dent reside in Newfoundland and Labrador is a reflection of the level of activity current­ly taking place in Newfoundland and Labra­dor. The company is currently involved in exploration, development and production in Newfoundland and Labrador," said Margot Bruce-O’Connell, ExxonMobil’s spokes­woman in St. John’s. ExxonMobil is also the lead operator in the Sable offshore natural gas project, which she described as “in a steady state of operation at this time."

O’Neill has experience in deepwater drill­ing, having worked with the company in New Orleans, and is currently reservoir engineering manager for ExxonMobil Pro­duction Company in Houston. She will start her new job in August and replaces Glenn Scott, who has been transferred to Calgary as senior vice-president of the re­sources division for Imperial Oil Ltd.

Mike Honderich is the operations super­intendent responsible for the Sable project, and continues to be based in Halifax.

The Sable natural gas project has been in operation since December 1990, with three offshore fields — North Triumph, Venture and Thebaud — spread out over 40 kilo­metres. It delivers gas to markets in Atlantic Canada and the U.S. northeast.

Royalties to the province from the Sable project have exceeded $1.3 billion since it began pumping gas.

New figures released this week from the Canada – Nova Scotia Offshore Petroleum Board show the volume of natural gas pro­duced so far this year is the lowest since production began.

The figures show natural gas production was down 14 per cent from 2009, a year in which royalties peaked at $450 million.

The ExxonMobil-led Sable project has pumped 1.67 billion cubic metres of gas in the first six months of this year.

Earlier this month, ExxonMobil an­nounced it will not be extending the life of the Sable project by developing what are called significant discovery licences near the project.

Production, which has been in decline in recent years, determines how much cash the province collects in royalties from the Sable partners, which include petroleum multinationals ExxonMobil and Royal Dutch Shell, and Calgary companies Pen­growth Energy Trust and Mosbacher Op­erating Ltd .

(From the Chronicle Herald Website).
I post this mainly to show the list of other companies doing work out in the field, beyond ExxonMobil.

I suspect production will remain in decline until the price of NG starts going up again. Off shore production needs a minimum amount to be profitable and I don't believe the current price (in the $4.50 range last I checked) is quite enough. If it goes back up into the $6 to $7 range; then you will see things pick up.
Reply With Quote
     
     
  #46  
Old Posted Jul 22, 2010, 6:09 PM
sdm sdm is offline
Registered User
 
Join Date: Oct 2006
Posts: 1,895
Quote:
Originally Posted by halifaxboyns View Post
Moving to Newfoundland
ExxonMobil’s new president shifts operations from Halifax to St. John’s
By JUDY MYRDEN Business Reporter
Thu, Jul 22 - 6:07 AM

ExxonMobil’s Venture O-32 satellite platform, part of the Sable gas system. (PETER PARSONS / Staff)







THE NEW president of ExxonMobil Canada will be moving to Newfoundland and Labrador instead of Nova Scotia.

The current president is based in Halifax but incoming president Meg O’Neill will move operations to St. John’s, the company confirmed Wednesday.

After more than a decade having its presi­dent located in downtown Halifax, the world’s largest oil and gas company is mov­ing its Canadian president to where there is more activity.

ExxonMobil is involved in Newfound­land’s Hebron, Hibernia and Terra Nova offshore oilfields.

“The decision to have the incoming presi­dent reside in Newfoundland and Labrador is a reflection of the level of activity current­ly taking place in Newfoundland and Labra­dor. The company is currently involved in exploration, development and production in Newfoundland and Labrador," said Margot Bruce-O’Connell, ExxonMobil’s spokes­woman in St. John’s. ExxonMobil is also the lead operator in the Sable offshore natural gas project, which she described as “in a steady state of operation at this time."

O’Neill has experience in deepwater drill­ing, having worked with the company in New Orleans, and is currently reservoir engineering manager for ExxonMobil Pro­duction Company in Houston. She will start her new job in August and replaces Glenn Scott, who has been transferred to Calgary as senior vice-president of the re­sources division for Imperial Oil Ltd.

Mike Honderich is the operations super­intendent responsible for the Sable project, and continues to be based in Halifax.

The Sable natural gas project has been in operation since December 1990, with three offshore fields — North Triumph, Venture and Thebaud — spread out over 40 kilo­metres. It delivers gas to markets in Atlantic Canada and the U.S. northeast.

Royalties to the province from the Sable project have exceeded $1.3 billion since it began pumping gas.

New figures released this week from the Canada – Nova Scotia Offshore Petroleum Board show the volume of natural gas pro­duced so far this year is the lowest since production began.

The figures show natural gas production was down 14 per cent from 2009, a year in which royalties peaked at $450 million.

The ExxonMobil-led Sable project has pumped 1.67 billion cubic metres of gas in the first six months of this year.

Earlier this month, ExxonMobil an­nounced it will not be extending the life of the Sable project by developing what are called significant discovery licences near the project.

Production, which has been in decline in recent years, determines how much cash the province collects in royalties from the Sable partners, which include petroleum multinationals ExxonMobil and Royal Dutch Shell, and Calgary companies Pen­growth Energy Trust and Mosbacher Op­erating Ltd .

(From the Chronicle Herald Website).
I post this mainly to show the list of other companies doing work out in the field, beyond ExxonMobil.

I suspect production will remain in decline until the price of NG starts going up again. Off shore production needs a minimum amount to be profitable and I don't believe the current price (in the $4.50 range last I checked) is quite enough. If it goes back up into the $6 to $7 range; then you will see things pick up.
Their departure is going to have a impact on a lot of things, caught word today that its happening.

This move, along with others that are in the works is going to open up downtown a lot with regards to office space. So much so that the market for new buildings is going to be tougher then it already is, which obviously sucks.
Reply With Quote
     
     
  #47  
Old Posted Jul 22, 2010, 6:31 PM
halifaxboyns halifaxboyns is online now
Registered User
 
Join Date: Feb 2010
Location: Calgary
Posts: 3,566
Quote:
Originally Posted by sdm View Post
Their departure is going to have a impact on a lot of things, caught word today that its happening.

This move, along with others that are in the works is going to open up downtown a lot with regards to office space. So much so that the market for new buildings is going to be tougher then it already is, which obviously sucks.
I don't think it makes things easier; but for Halifax nothing has ever been easy. To be honest, I like a challenge and I think things will come back.

Oil will eventually run out and with the push to go to green energy; I think that is where Nova Scotia should move it's focus. If they were smart; they would begin studying the best places for tidal power to be done and do a solar power study of the province too.

The next step would then be to establish a payroll rebate program for Green Industry, much like Daewoo - it's great we got their plant for Stellerton; but now we need to get more. We need the plants that make the parts, in addition to manufacturing the completed turbines. We need to train people to install them too (if not done already). Then we need to do the same for tidal and for solar; that could be Nova Scotia's future. Thousands of jobs could be created in regions of Nova Scotia that could use it; like the valley or areas on the edge of HRM (so long as they are on the rail line) so that the finished products could be easily shipped into NB or to the port for worldwide distribution. Ahhh dare to dream.

...Meanwhile, back on planet earth in reality (LOL); the government can continue to plug the off shore gas and oil. These companies may leave now; but they will be back when oil and gas get to the right price. Others will come in the meantime - although it worries me that BP has land rights. I think we just need to be patient and in the meantime focus on other industries.

I could honestly see some huge manufacturing plants out in Sackville along the rail line (where it splits to the valley and then off to Truro) where final wind or tidal turbines would be manufactured and shipped. It would be a great advertising idea (if more green jobs are created) - Welcome to Nova Scotia: Green energy capital of Canada. Yet again...I can dream.
Reply With Quote
     
     
  #48  
Old Posted Jul 22, 2010, 6:49 PM
sdm sdm is offline
Registered User
 
Join Date: Oct 2006
Posts: 1,895
Quote:
Originally Posted by halifaxboyns View Post
I don't think it makes things easier; but for Halifax nothing has ever been easy. To be honest, I like a challenge and I think things will come back.

Oil will eventually run out and with the push to go to green energy; I think that is where Nova Scotia should move it's focus. If they were smart; they would begin studying the best places for tidal power to be done and do a solar power study of the province too.

The next step would then be to establish a payroll rebate program for Green Industry, much like Daewoo - it's great we got their plant for Stellerton; but now we need to get more. We need the plants that make the parts, in addition to manufacturing the completed turbines. We need to train people to install them too (if not done already). Then we need to do the same for tidal and for solar; that could be Nova Scotia's future. Thousands of jobs could be created in regions of Nova Scotia that could use it; like the valley or areas on the edge of HRM (so long as they are on the rail line) so that the finished products could be easily shipped into NB or to the port for worldwide distribution. Ahhh dare to dream.

...Meanwhile, back on planet earth in reality (LOL); the government can continue to plug the off shore gas and oil. These companies may leave now; but they will be back when oil and gas get to the right price. Others will come in the meantime - although it worries me that BP has land rights. I think we just need to be patient and in the meantime focus on other industries.

I could honestly see some huge manufacturing plants out in Sackville along the rail line (where it splits to the valley and then off to Truro) where final wind or tidal turbines would be manufactured and shipped. It would be a great advertising idea (if more green jobs are created) - Welcome to Nova Scotia: Green energy capital of Canada. Yet again...I can dream.
Well the companies might always be back, but if they do the thoughts are that they will be targeting shale gas more then offshore gas.
Reply With Quote
     
     
  #49  
Old Posted Jul 22, 2010, 8:52 PM
halifaxboyns halifaxboyns is online now
Registered User
 
Join Date: Feb 2010
Location: Calgary
Posts: 3,566
Quote:
Originally Posted by sdm View Post
Well the companies might always be back, but if they do the thoughts are that they will be targeting shale gas more then offshore gas.
I am hoping not and they would focus on off shore capturing. Shale gas is awefully destructive; from what I've read.
Reply With Quote
     
     
  #50  
Old Posted Jul 22, 2010, 10:34 PM
fenwick16 fenwick16 is offline
Registered User
 
Join Date: Feb 2007
Posts: 4,438
I remember a huge headline in the Chronicle Herald back in the 1970's that stated "ITS OIL". Maybe it is just time for Nova Scotia to move beyond the dream of riches from oil and start focusing on other avenues such as manufacturing.
Reply With Quote
     
     
  #51  
Old Posted Jul 22, 2010, 10:48 PM
halifaxboyns halifaxboyns is online now
Registered User
 
Join Date: Feb 2010
Location: Calgary
Posts: 3,566
The beauty of working to focus on green employment with wind, solar and tidal power is that (for the most part) when economies run into issues; they will always need power.

So they will always need to have power generation - which is likely not to see spending cuts. Plus, these things will always require maintenance, upgrading and eventual replacement.

Sounds like a pretty lucrative industry to me; so long as it's well managed.
Reply With Quote
     
     
  #52  
Old Posted Jul 23, 2010, 4:13 AM
David1gray's Avatar
David1gray David1gray is offline
Registered User
 
Join Date: Jan 2010
Location: Westville, Nova Scotia
Posts: 710
i agree, focusing on green energy could be the way to go. the daewoo facility is a good start, and much needed for this area. btw it is located in trenton not stellarton. trenton was pretty much dead since the trenton works closed(railcar manufacturing) so hopefully this will help to keep people in ns, and maybe bring some back
Reply With Quote
     
     
  #53  
Old Posted Jul 23, 2010, 4:51 AM
halifaxboyns halifaxboyns is online now
Registered User
 
Join Date: Feb 2010
Location: Calgary
Posts: 3,566
Quote:
Originally Posted by David1gray View Post
i agree, focusing on green energy could be the way to go. the daewoo facility is a good start, and much needed for this area. btw it is located in trenton not stellarton. trenton was pretty much dead since the trenton works closed(railcar manufacturing) so hopefully this will help to keep people in ns, and maybe bring some back
So I did say Stellerton - I should never do two things at once. I was talking with a friend about Sobeys and explaining how they are hq'ed in Stellerton but I was thinking Trenton lol!

It would be interesting if even somewhere else a rail car plant could open up again as a Bombardier plant. Granted, with union demands for pay - I doubt that would happen.
Reply With Quote
     
     
  #54  
Old Posted Jul 23, 2010, 5:52 AM
David1gray's Avatar
David1gray David1gray is offline
Registered User
 
Join Date: Jan 2010
Location: Westville, Nova Scotia
Posts: 710
oh haha ya my dad works at the sobeys hq
Reply With Quote
     
     
  #55  
Old Posted Jul 29, 2010, 4:28 PM
fenwick16 fenwick16 is offline
Registered User
 
Join Date: Feb 2007
Posts: 4,438
The Nova Scotia deficit for 2009 - 2010 will come in at $241.9 which is far less than the earlier projection of $592.1 million projected last September (2009). Penny pinching and a better than expected Canadian economy are to be credited for the much smaller deficit. This is according to a bulletin released today by allnovascotia.com.

The deficit of $241.9 million dollars is peanuts compared to the multi-billion dollar deficits of Ontario and BC.

I think Premier Dexter should consider a drop in the HST (or corporate tax) or spend more on infrastructure such as a new convention centre (and build a stadium also).
Reply With Quote
     
     
  #56  
Old Posted Jul 29, 2010, 5:36 PM
halifaxboyns halifaxboyns is online now
Registered User
 
Join Date: Feb 2010
Location: Calgary
Posts: 3,566
Quote:
Originally Posted by fenwick16 View Post
The Nova Scotia deficit for 2009 - 2010 will come in at $241.9 which is far less than the earlier projection of $592.1 million projected last September (2009). Penny pinching and a better than expected Canadian economy are to be credited for the much smaller deficit. This is according to a bulletin released today by allnovascotia.com.

The deficit of $241.9 million dollars is peanuts compared to the multi-billion dollar deficits of Ontario and BC.

I think Premier Dexter should consider a drop in the HST (or corporate tax) or spend more on infrastructure such as a new convention centre (and build a stadium also).
Too soon to consider dropping the HST until they know for certain where they come out. Just because the economy is doing well now; doesn't mean a sudden turn couldn't occur.

I'm of the opinion hold it where it is for now and wait for the next budget. That way; if a sudden bump in the road occurs; you have some cushion. If not; then you should be further ahead then you were.

No matter what; the province needs to tighten it's belt and spend within it's means; even when the province returns to the black. It should be focusing on debt repayment because I for one don't want to be coming back and still paying down a huge debt!
Reply With Quote
     
     
  #57  
Old Posted Jul 29, 2010, 5:43 PM
fenwick16 fenwick16 is offline
Registered User
 
Join Date: Feb 2007
Posts: 4,438
Quote:
Originally Posted by halifaxboyns View Post
Too soon to consider dropping the HST until they know for certain where they come out. Just because the economy is doing well now; doesn't mean a sudden turn couldn't occur.

I'm of the opinion hold it where it is for now and wait for the next budget. That way; if a sudden bump in the road occurs; you have some cushion. If not; then you should be further ahead then you were.

No matter what; the province needs to tighten it's belt and spend within it's means; even when the province returns to the black. It should be focusing on debt repayment because I for one don't want to be coming back and still paying down a huge debt!
All provinces have debts except for Alberta. The debt should be reduced but it should be thought of as a personal mortgage. Just like most people aren't able to pay cash for a house, provinces aren't always able to pay for infrastructure in advance.

Reducing the HST will encourage people to locate in the province (and Dexter ran on promises of lower PST).
Reply With Quote
     
     
  #58  
Old Posted Jul 29, 2010, 6:01 PM
halifaxboyns halifaxboyns is online now
Registered User
 
Join Date: Feb 2010
Location: Calgary
Posts: 3,566
Quote:
Originally Posted by fenwick16 View Post
All provinces have debts except for Alberta. The debt should be reduced but it should be thought of as a personal mortgage. Just like most people aren't able to pay cash for a house, provinces aren't always able to pay for infrastructure in advance.

Reducing the HST will encourage people to locate in the province (and Dexter ran on promises of lower PST).
I'm not saying don't reduce the HST; but it has to be done in a careful way. The economic signs are so disjaunted - one day it's good and one day it's bad. There had been concern at one time that we could see a double dip recession or a stall - so we're not fully out of the woods yet.

Let it stay the way it is for now; so you have a buffer. Then when budget time rolls around next year; if things keep looking good - reduce it one point to 14% with a promise to examine things 6 months later. If things continue to look promising; then reduce back to 13%.

The debt takes time to pay off; I agree. But more focus should be put on living within Provincial means and paying the debt down. Nearly $2 billion of the provincial budget is debt payments! Imagine what that could be invested in - if the debt was gone?
Reply With Quote
     
     
  #59  
Old Posted Jul 29, 2010, 6:41 PM
fenwick16 fenwick16 is offline
Registered User
 
Join Date: Feb 2007
Posts: 4,438
Quote:
Originally Posted by halifaxboyns View Post
I'm not saying don't reduce the HST; but it has to be done in a careful way. The economic signs are so disjaunted - one day it's good and one day it's bad. There had been concern at one time that we could see a double dip recession or a stall - so we're not fully out of the woods yet.

Let it stay the way it is for now; so you have a buffer. Then when budget time rolls around next year; if things keep looking good - reduce it one point to 14% with a promise to examine things 6 months later. If things continue to look promising; then reduce back to 13%.

The debt takes time to pay off; I agree. But more focus should be put on living within Provincial means and paying the debt down. Nearly $2 billion of the provincial budget is debt payments! Imagine what that could be invested in - if the debt was gone?
I agree with a cautious approach. I am happy that Nova Scotia has gotten its finances under control. You are off on the debt payments though. Nova Scotia actually paid less in 2008-2009 for debt servicing than it did 10 years ago in 1998-1999. In 2008 - 2009, Nova Scotia only paid $886 million for debt servicing. (source - http://www.gov.ns.ca/finance/site-fi...erview2008.pdf ) The percentage of the budget for debt servicing was 10.7% of expenses, not bad compared to what it was 10 years ago (lower interest rates are a big factor in this). I would prefer that Nova Scotia's debt was more like Alberta's debt (actually a surplus). The information for 2009 - 2010 has not been posted to the NS government website since I think it was just released, or parts of it, in the past couple of days.

(source - page 4 of http://www.gov.ns.ca/finance/site-fi...erview2008.pdf )
Quote:
Total gross debt servicing costs were $909 million in 1998-99 and are $886 million today - a reduction of $23 million.
Total 2008-2009 expenses for the Province of Nova Scotia are forecast to be $8.317 billion, as of the December 2008 budget forecast update.
Departmental expenses make up 88.4 per cent of the total, at $7.349 billion. These include:
• $3.193 billion for Health, 38.4 per cent of total expenses
• $1.491 billion for Education and Universities, 17.9 per cent
• $908.5 million for Community Services, 10.9 per cent
• $1.757 billion for all other departments, or 21.1 per cent
Debt servicing costs are forecast to be $886.4 million, or 10.7 per cent of expenses.
Reply With Quote
     
     
  #60  
Old Posted Jul 29, 2010, 8:35 PM
halifaxboyns halifaxboyns is online now
Registered User
 
Join Date: Feb 2010
Location: Calgary
Posts: 3,566
Quote:
Originally Posted by fenwick16 View Post
I agree with a cautious approach. I am happy that Nova Scotia has gotten its finances under control. You are off on the debt payments though. Nova Scotia actually paid less in 2008-2009 for debt servicing than it did 10 years ago in 1998-1999. In 2008 - 2009, Nova Scotia only paid $886 million for debt servicing. (source - http://www.gov.ns.ca/finance/site-fi...erview2008.pdf ) The percentage of the budget for debt servicing was 10.7% of expenses, not bad compared to what it was 10 years ago (lower interest rates are a big factor in this). I would prefer that Nova Scotia's debt was more like Alberta's debt (actually a surplus). The information for 2009 - 2010 has not been posted to the NS government website since I think it was just released, or parts of it, in the past couple of days.

(source - page 4 of http://www.gov.ns.ca/finance/site-fi...erview2008.pdf )
I wonder why I thought it was so high?? Hmm - I seem to recall reading somewhere that it was 2B $. Weird; either way; but we aren't in a surplus in Alberta anymore. Well not officially - we're using the 'rainy day' funds to keep our debt at 0.

Either way; this is good start but caution is the key.
Reply With Quote
     
     
This discussion thread continues

Use the page links to the lower-right to go to the next page for additional posts
 
 
Reply

Go Back   SkyscraperPage Forum > Regional Sections > Canada > Atlantic Provinces > SSP: Local Halifax > Business, Politics & the Economy
Forum Jump


Thread Tools
Display Modes

Forum Jump


All times are GMT. The time now is 4:36 PM.

     

Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2014, vBulletin Solutions, Inc.