Elisabeth Saftiuk, Director of Policy at the Manitoba Chambers of Commerce, provided an analysis of provincial Budget 2022 following MCC’s participation in budget lockup at the Manitoba Legislative Building on April 12.
“The government’s Throne Speech in November 2021 spoke directly to businesses and seemed to suggest that workforce, venture capital, and Manitoba economic recovery were priorities, says Saftiuk. “While Budget 2022 contains important long-term measures, we were hoping to see timely action on these promises and short-term help for Manitoba’s business community. There is little in this budget to increase the business community’s confidence as they chart their path forward towards economic recovery. Furthermore, while we were pleased to see movement on the payroll tax, the Manitoba Chambers of Commerce continues to ask the provincial government to commit to a full review of the Manitoba tax structure, including both corporate and personal taxes.”
Budget 2022 reduces the deficit by more than $1 billion in comparison to last year and the government is projecting a deficit in 2022/23 of $548 million. The Province has suggested that it is on track to return Manitoba’s books to balanced within the next seven years. According to the Ministry of Finance, Budget 2022 is committed to:
- Strengthening health care
- Making life more affordable
- Building our economy
- Investing in our communities
- Protecting our environment