BILL NO. 34

(as introduced)

2nd Session, 62nd General Assembly
Nova Scotia
63 Elizabeth II, 2014

Private Member's Bill

Living within Our Means Act

The Honourable Jamie Baillie
Cumberland South

First Reading: October 14, 2014

(Explanatory Notes)

Second Reading:

Third Reading:

Explanatory Notes

Clause 1 provides a short title to the Act.

Clause 2 limits the amount of Nova Scotia's net debt to gross domestic product ratio to 30 per cent or less by 2024.

An Act to Limit Government Debt

Be it enacted by the Governor and Assembly as follows:

1 This Act may be cited as the Living within Our Means Act.

2 Chapter 2 of the Acts of 2010, the Finance Act, is amended by adding immediately after Section 37 the following Section:

37A Notwithstanding Sections 36 and 37 and any Appropriations Act, the Minister shall not borrow any sum of money that, on or after January 1, 2024, would result in the Province's net-debt-to-gross-domestic-product ratio exceeding 30 per cent.

This page and its contents published by the Office of the Legislative Counsel, Nova Scotia House of Assembly, and © 2014 Crown in right of Nova Scotia. Created October 14, 2014. Send comments to legc.office@gov.ns.ca.