Provincial Budget 2022
On April 12, the Manitoba government released a budget aimed at recovering from the extreme fiscal pressures of COVID-19, continuing to provide some tax relief and investing in needed healthcare facilities, schools and personal care homes.
The budget projects total revenue of $19.3 billion in 2022/23 with a total expenditure of $19.9 billion leading to a deficit of $548 million. The Province predicts a balanced budget in 2028/29. Manitoba posted a razor thin surplus of $5 billion in 2019/20 prior to feeling the effects of COVID-19. Prior to that year, Manitoba has not had a surplus budget since 2008/09.
For residential property owners and farmers, the Education Property Tax Rebate has increased from 25% to 37.5% for this budget year and is said to increase to 50% 2023.
There is tax relief for business owners with payrolls larger than $1.75 million. Effective Jan.1, 2023 the payroll tax exemption threshold will be increase to $2 million from the current $1.75 million and the threshold for the lower payroll tax rate will be increased to $4 million from $3.5 million.
Of note is the publishing of a three-year commitment for Strategic Infrastructure spends. For example, Manitoba Housing commits to spend $67 million per year for the next three years on maintenance and renovations. The Health department has committed to spend $885 million over the next 3 years in Infrastructure investments. Education Infrastructure investments over the next three years are estimated at $381 million, $328 million and $221 million respectively.
Some upcoming projects that received special mention in the budget papers are:
· Personal Care Homes in Carman and Steinbach
· Schools in Sage Creek (K-8), Precinct F (K-8), West St. Paul (K-8), Prairie Point (K-8)
o New Hospital in Neepawa $127M
o Expansion of Selkirk Regional Health Centre $31.6M
o Expansion of Boundary Trails Health Centre $64.4M
o Expansion of Bethesda Regional Health Centre $32M
o New Hospital at Portage la Prairie $283M
o Renovations at Brandon Regional Health Centre $70M
o Renovations at Ashern Lakeshore General Hospital $10.8M
o Northern Manitoba Hospital developments $115M