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“Anyone who gets into politics has to know that it’s about losses as well as wins,” said Dexter, 56.

“Nova Scotians made a historic choice four years ago when they elected the NDP. I was humbled by the challenges and the opportunities that we faced. We New Democrats had been conscientious critics, but Nova Scotians had never before put us to the test. Nova Scotians, I know that we didn’t meet every expectation.”

Dexter said he would meet with the party executive to discuss his future.

“Friends, it was a tough campaign. We will have time to reflect on the last 30 days and on the last four years, learning as we go forward.”

McNeil, 48, overcame a barrage of attacks ads from the NDP who questioned whether he had what it takes to be premier with the tagline: “Stephen McNeil, Not Worth the Risk.”

The former owner of an appliance repair business, who was easily re-elected in his riding of Annapolis, led the Liberals to victory after falling well short in 2009, when the party won 11 seats as the NDP swept the province.

Progressive Conservative Leader Jamie Baillie, who made tax cuts and frozen power rates the central commitments of his campaign, becomes leader of the Opposition with 11 elected members. This was the first election as party leader for Baillie, a 47-year-old chartered accountant who was once chief of staff to former Tory premier John Hamm.

“Tonight shows that when you have the right ideas, when you have the right plan, when you have the people of Nova Scotia in your heart, you cannot keep a good team down,” Baillie said after winning his riding of Cumberland South.