Keeping our promises. Real progress for our financial future.
Budget 2018 puts Manitoba's economy on the road to recovery and provides a solid plan for making Manitoba the most improved province in Canada.
We're investing in priorities that support a sustainable financial future across Manitoba including:
- reducing the deficit to $521 million in 2018-19, making consistent progress toward a balanced budget;
- keeping expenditure growth lower than revenue growth for three straight budgets, the first time this has happened in 15 years;
- returning more than $230 million from the cabinet table to the kitchen table by increasing the basic personal amount income tax deduction;
- confirming the retail sales tax rate will drop to seven per cent by 2020;
- broadening exemptions on sales tax to coated fertilizer grain-bins used in farming and drill bits used in oil and gas fields;
- increasing the small business income limit for the small business tax rate to $500,000 from $450,000 on Jan. 1, 2019, which will deliver $7 million annually in small business tax relief;
- budgeting more than $1.4 billion for strategic infrastructure investments;
- investing $102 million in a conservation trust, a historic investment in the future of the environment;
- implementing a made-in-Manitoba, $25-a-tonne carbon levy that provides important exemptions to marked fuels for agriculture, forestry, commercial fishing, hospitals and municipalities, and returning every cent of carbon tax revenue to Manitobans in the form of tax cuts over the next four years; and
- changing how the Education Property Tax Credit is calculated and streamline administration to benefit low-income renters and municipalities.
