Manitoba Budget Highlights

On May 31, the new Manitoba government led by Premier Brian Pallister released its budget, less than a month after their win. It is notable that the former NDP government had been in power for 17 years, meaning the budget was based primarily on the new government's campaign platform to make Manitoba better.

The initial review of the budget illustrates the government's desire to "correct the course" and position Manitoba as the most improved province in Canada. It highlights the financial situation of the province has deteriorated and the revised budget deficit for 2015-16 is $1.01 billion, an increase of $422 million over what was anticipated in the 2015 budget.

There were relatively few tax changes – the government announced it will review the province's personal and business tax system to ensure it is meeting the needs of Manitobans and their businesses. The small business venture capital tax credit that was to expire at the end of this year was extended to the end of December 31, 2019.

The government announced it will be creating an advisory panel of top business leaders who will work with the government to create new jobs and promote economic growth. If you are approached to be part of the advisory panel, please let AMC's President know as this type of engagement is important and AMC will provide support as is appropriate. In addition, A Red Tape Reduction Task Force will be established to address frustrations from business owners and individuals alike. Many of the signs provided in the budget are encouraging however, there is much that the new government will need to do if it is to successfully correct the course.

The Manitoba budget and the various documents related to it are available here:http://www.gov.mb.ca/finance/budget16/index.html

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