Issue: The province’s net debt has nearly doubled over the last decade, and the deficit is projected to be $840 millionthis year. Not surprisingly, the province’s credit rating was recently downgraded.
Manitoba small business owners know that today’s deficits are tomorrow’s taxes, and they have made it clear that the province needs to get back to balanced budgets. In fact, 75 per cent of Manitoba entrepreneurs cite government debt and deficit as a serious concern to their business.
With labour costs accounting for about 70 per cent of the provincial budget, this is the logical place to start looking at bending the cost curve. CFIB surveys reveal 90 per cent of small business owners believe the province should reduce spending to return to balanced budgets, and 98 per cent want to see the size of government reduced through workforce attrition.