CALGARY — Manitoba is on track to spend about $277 million more than it budgeted this year, despite a projected $294 million increase in revenue, according to the province’s first-quarter fiscal update. The Canadian Taxpayers Federation says Premier Wab Kinew’s government should find savings and use the additional revenue to reduce borrowing.“Increased revenues should be used to lower borrowing, not spend more money,” said Gage Haubrich, the federation’s Prairie director. “When the government faces unexpected costs like wildfires or floods, the right thing to do is to find savings in other areas.”.The update attributes the higher spending forecast to flood and wildfire costs. Higher-than-expected income tax revenue and Manitoba Hydro net income are behind the revenue increase.The province projects its debt will exceed $38 billion by year’s end, more than $1.5 billion above last year’s level. Debt interest charges are expected to cost about $2.4 billion this year.“Taxpayers can’t afford for Premier Wab Kinew to keep wasting billions of dollars per year on debt interest payments,” Haubrich said. “Instead of spending money as fast as it comes in, the government needs a real plan to control spending, find savings and start to pay down the debt.”
