The province is moving forward with its multi-year economic recovery plan investing in health care, education, training, policing and supports for families through proposed amendments introduced to the Balanced Budget, Fiscal Management and Taxpayer Accountability Act, Finance Minister Rosann Wowchuk announced today.
“Budget 2010 laid out a clear direction for this government and committed to continuing support for front-line services, economic stimulus and job creation along with keeping Manitoba an affordable place to live and raise a family,” said Wowchuk. “Managing the effects of the global recession over five years instead of absorbing them all in one year restores financial balance and gives Manitobans the assurance that front-line services will be protected.”
Financial management amendments proposed in the budget implementation and tax statutes amendment act include:
- requiring the annual budget shortfall to be eliminated no later than 2014;
- exceeding debt-payment requirements under the current law by dedicating at least $600 million from the Fiscal Stabilization Account to pay down debt and interest;
- cutting ministerial salaries by 20 per cent during the economic recovery period and freezing MLA’s salaries for two years;
retaining the requirements to have balanced budgets into the future; and
- keeping restrictions that prohibit increases to major taxes without a referendum.
“This legislation would enable our government to do as many others have across the country – implement a multi-year plan to manage the effects of the global recession,” said Wowchuk.
To review the bill log on to http://web2.gov.mb.ca/bills/39-4/b031e.php.