Manitoba’s newly-elected government faces some important fiscal challenges.
debt and deficit
The deficits to fiscal year 2020-21 will total $118.6 billion.
By the early 1990s, a third of all federal government revenue was being used simply to pay interest on the debt.
The $5.4 billion projected deficit in 2015/16 is driven by higher spending—not a weak economy.
At $29.4 billion, the projected budget deficit in 2016/17 is larger than the cumulative budget deficits projected for the entire mandate in the Liberal platform.
By 2017/18 spending will be up by $50 billion from 2014/15, representing a jump of 20 per cent.
Provincial net debt has increased by approximately $160 billion since 2003/04.