Nova Scotia’s economy doomed to decline unless population trend reversed: report

HALIFAX – A new report on economic development in Nova Scotia says the province is doomed to endure an extended period of decline unless population and economic trends are reversed.

The report, written by a panel led by Acadia University president Ray Ivany, says the province’s economy is barely able to support its standard of living.

But the report says there is also reason to be optimistic, pointing to the province’s strong entrepreneurial class.

The report, called “Now or Never: An Urgent Call to Action,” says the government and business community need a shared vision to turn things around.

The panel came up with 12 strategies including expanded immigration, enhanced research and development and revitalization of traditional rural industries.

The commission was created by the NDP government in the fall of 2012 and involved a series of community sessions across the province.