Mar. 4, 2019

Manitoba’s shrinking deficit is good news for taxpayers

WINNIPEG, MB: The Canadian Taxpayers Federation is encouraged to see Manitoba’s operational deficit is shrinking in the third quarter budget update released today, but ballooning interest payments remain a concern.

“It’s great to see that most expenses are coming it at or under budget because that shows government can make a financial plan and stick to it,” said Todd MacKay, Prairie Director for CTF. “And the government’s plan is slowly moving the province toward a balanced budget.”

The province’s deficit is now projected at $470 million, down slightly from the budget’s $521-million deficit. Spending is down by $259 million. The province is projecting to spend more than $1 billion to cover interest payments on the existing debt.

“It’s always good to see the deficit get smaller, but it’s important to remember that the debt is still going up and that means the province is wasting more taxpayers’ money on interest payments,” said MacKay. “The Manitoba government needs to strengthen its commitment to getting the budget balanced quickly.”