Manitoba Budget Report 2016

"Correcting the course"

On May 31, 2016, the Honourable Cameron Friesen presented his first budget as Minister of Finance and the first budget of the newly elected Progressive Conservative government that was elected on April 19, 2016.

The new government reports that the financial situation for the province has worsened and the revised budget deficit for the 2015-16 fiscal year is now $1.011 billion which is up from the $422 million deficit predicted in last year’s budget. The deficit for the 2016-17 fiscal year is now projected to be $911 million. The Finance Minister also stated that the province’s debt has grown from $10 billion to $21 billion during the last eight years. The government predicts that with a careful approach, it will be able to balance the books during its second term in office.

Highlights

• Deficit of $1.011 billion projected for 2015-16
• Deficit of $911 million forecast for 2016-17
• Personal tax brackets and basic credit to be indexed
• Seniors' School Tax Rebate to be subject to a clawback