The Manitoba Legislature is set for a visit from the Canadian Taxpayers Federation (CTF) Monday as it unveils its Debt Clock. The move is part of a concerted effort to call upon Premier Wab Kinew to prioritize fiscal responsibility and curb wasteful spending on interest payments."Interest payments on the debt are costing taxpayers $2.2 billion this year. That money can't be used for tax relief or programs — it's just wasted because the government failed to balance the budget in the past," said Gage Haubrich, the CTF Prairie Director.The Debt Clock, a monumental digital counter mounted on the side of a moving truck, will vividly display the provincial debt in real-time, serving as a tangible representation of Manitoba's escalating financial burden. Among the alarming statistics it will highlight are:Interest payments on the debt will consume approximately $2.2 billion this year, translating to $1,480 per Manitoban.Manitoba's provincial debt currently stands at approximately $33.5 billion, averaging to $22,869 per Manitoban.The provincial government's projection of a $2-billion deficit for the year marks the largest deficit outside of pandemic-related circumstances.Of particular concern is the government's track record regarding budget balancing. The last balanced budget dates back to 2022-23, with the government managing to balance only two out of its last ten budgets."The government needs to give Manitoba a balanced budget. Taxpayers balance their household budgets and are only asking for the government to do the same," said Haubrich.
The Manitoba Legislature is set for a visit from the Canadian Taxpayers Federation (CTF) Monday as it unveils its Debt Clock. The move is part of a concerted effort to call upon Premier Wab Kinew to prioritize fiscal responsibility and curb wasteful spending on interest payments."Interest payments on the debt are costing taxpayers $2.2 billion this year. That money can't be used for tax relief or programs — it's just wasted because the government failed to balance the budget in the past," said Gage Haubrich, the CTF Prairie Director.The Debt Clock, a monumental digital counter mounted on the side of a moving truck, will vividly display the provincial debt in real-time, serving as a tangible representation of Manitoba's escalating financial burden. Among the alarming statistics it will highlight are:Interest payments on the debt will consume approximately $2.2 billion this year, translating to $1,480 per Manitoban.Manitoba's provincial debt currently stands at approximately $33.5 billion, averaging to $22,869 per Manitoban.The provincial government's projection of a $2-billion deficit for the year marks the largest deficit outside of pandemic-related circumstances.Of particular concern is the government's track record regarding budget balancing. The last balanced budget dates back to 2022-23, with the government managing to balance only two out of its last ten budgets."The government needs to give Manitoba a balanced budget. Taxpayers balance their household budgets and are only asking for the government to do the same," said Haubrich.
