This week Manitoba’s Minister of Finance provided a financial update in advance of the upcoming provincial budget which is scheduled for May 31st. The update revealed that the deficit for 2015-2016 would be $1.012 billion.
Only 10 weeks ago, the previous NDP government stated in a fiscal update that the budget deficit would be $666 million, a difference of $346 million or a 52% increase over what the NDP government previously disclosed to Manitobans. The Minister of Finance also brought to light that there was a $148-million increase in expenditures and a $180-million decrease in revenue this year.
It would seem the NDP put their own political priorities ahead of the priorities of Manitobans. The huge difference in the deficit number was not accidental, it was reckless and a result of the NDP not fully disclosing the true financial picture before the election. Sadly, this continues the pattern of what we saw from the NDP over the past decade where budgets were never kept and accurate financial data was withheld.
It’s a consequence of overestimating revenues, underestimating spending, and the result is the deficit we have now and the rising debt we have seen for the last decade. Manitoba Progressive Conservative’s were elected to clean up the financial mess. That work has already begun as reviews are being undertaken to find efficiencies and savings throughout government.
It is an enormous challenge, one that we know must be taken on by the new government in partnership with all Manitobans. We know that Manitobans are better together, and together steps will be taken to improve Manitoba today and into the future.
