To better understand what you think is important, we want you to build your own provincial budget focused on your priorities. We also want your suggestions on how provincial spending and revenue should be prioritized, as well as your thoughts on innovative ways to save money while ensuring services are available and what efficiencies might be possible.
Building the provincial budget requires finding balance between our revenues and expenditures. Nearly 70 per cent of our revenues (around $11.4 billion) are from taxes and various fees.
We also receive transfers from the federal government through the federal equalization program as well as targeted transfers for health and social services.
On the expenditure side, over 75 per cent (nearly $13.4 billion) go directly to services in health, education and family. Notably, our debt servicing costs are over $1 billion per year, which is a cost that we must reduce.
A household with $70,000 income will pay approximately $12,892 in taxes and fees or 18.4 per cent of income.
Just over half of the taxes collected come from personal income tax and retail sales tax (55 per cent or $7,050).
Just like the government, 77 per cent of household taxes and fees ($9,877) go directly to health, education and family services.
Looking at the provincial debt, government borrows just over $5,658 per household.
There is a commitment to balance the provincial budget and we are on track to do so. The goal is to create wealth and boost Manitoba’s economic potential by taking action on key determinants of growth: private investment, labour market participation, entrepreneurship and innovation.