On March 7th, the Government of Manitoba delivered Budget 2023, where it provided an updated accounting of provincial finances and laid out the Progressive Conservative Government’s spending plan for the 2023/24 Fiscal Year, as Manitoba heads into a provincial election this fall.
Budget 2023 highlights include:
- An increase for the provincial Basic Personal Amount to $15,000 (from $10,145 in 2022).
- Increases in both the lowest and highest tax brackets (starting in 2024):
- The lowest tax bracket will now apply to the first $47,000 of income (up from $34,431 in 2022).
- The highest tax bracket will not apply on only income earned over $100,000 (up from $74,417 in 2022).
- An increase in the payroll tax exemption threshold to $2.25 million.
- Government signaled its intent to eliminate the payroll tax in the future.
- An increase in investment to the venture capital fund from $50 million to $100 million.
- $7.9 billion in healthcare spending.
- $.17 billion investment in K-12 education.
The Manitoba Chambers of Commerce would like your insights into Budget 2023, including what you agree with, what you don’t agree with, and how the Manitoba Chambers of Commerce can help to address your concerns.
Please join our MB Pulse community and complete our short 6-question survey by March 27. It should take no more than 2 minutes to complete.
Your opinions are important to us, and your answers will remain confidential. We will share results in anonymous, aggregate form only, and we will use the data we receive to help guide our advocacy efforts.
