Nova Scotia's auditor general says province's net debt continues to grow

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HALIFAX - Nova Scotia's auditor general says the province's net debt continues to increase and ranks as the second highest in the country.

Jacques Lapointe says the net debt at the end of the 2012-13 fiscal year stood at $13.9 billion, a 5.3 per cent increase over the previous year.

That represents a $617 million increase in the per capita debt, bringing it to $14,832 for every resident of Nova Scotia.

Lapointe also examined the pension plan for civil servants in a report released today and says he couldn't verify the accuracy of benefits paid to most retired employees of the provincial government and the Capital Health District because of missing information.

The report says the government and the health district lack the means to verify the benefits.

As well, Lapointe says the investment policies and goals of the largest public service pension plan is confidential and he recommends it be made available to plan members.

Geographic location: Nova Scotia

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