The Manitoba government provided tax relief in its Budget 2023, however, the Canadian Taxpayers Federation (CTF) says the government needs to speed up and immediately offer full relief. . Manitoba Flag .“Today’s tax relief is good news and will let Manitobans keep more of their money when it’s needed the most,” said CTF Prairie Director Gage Haubrich..“But families are struggling to afford groceries today, so why is the government waiting until after the election to provide the full tax cut?”.Finance Minister Cliff Cullen said “when Manitobans need it most, Budget 2023 will help people across all areas of family and community life while we work hard to create economic opportunities. This budget is about doing everything possible for Manitobans at a time when they need it most.”.Manitobans will be able to make up to $15,000 tax-free on their provincial income tax, up from $10,145 and saving taxpayers up to $524..In 2024, the income tax brackets will be changed by increasing the lowest tax rate up to the first $47,000 of income and the second rate applies from $47,000 to $100,000..The income tax rate adjustments will tax more Manitobans at lower tax rates and save them up to $1,399 in 2024..In 2023, the government’s deficit will be about $363 million and provincial debt will grow to $31 billion by the end of 2023..The debt interest charges cost each Manitoban $906 per year and a total of $1.3 billion in 2023..“The government needs to balance the budget and stop throwing more debt on the backs of future Manitobans,” said Haubrich. .“More than $1 billion can’t be used to improve services or lower taxes this year because it’s going to the bond fund managers on Bay Street to pay interest charges on the government credit card.”.Provincial spending will reach $21.9 billion this year, up from $19.9 billion in the last budget..The budget includes $50 million for a venture capital fund, $35 million in economic development loans, and $10 million for the Manitoba Mineral Development Fund..“Politicians shouldn’t be playing investment banker with taxpayers money,” said Haubrich. .“Instead of wasting money on corporate welfare, the government should balance the budget and provide the full tax relief immediately.”
