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.