Winnipeg, April 11, 2017 – The Canadian Federation of Independent Business (CFIB) is disappointed that the Manitoba government continued its trend of unsustainable spending, and failed to outline a clear road map to get back to balanced budgets.
“Manitoba entrepreneurs were looking for three things in this Budget; sustainable spending, which would limit short-term spending increases to no more than 1 per cent per year, with a clear plan to get back to balance; creating a more competitive tax environment, and further reductions to red tape,” said Jonathan Alward, CFIB’s Director of Provincial Affairs for Manitoba.
“Small businesses are concerned the Manitoba government hasn’t taken enough action to curb unsustainable spending,” noted Alward. “By increasing 2017-18 expenditures by 3.1 per cent, we fear this approach will make it extremely difficult to balance the budget by 2024. Let’s not forget, today’s deficits turn into tomorrow’s taxes.”
“While pleased there were no tax increases or new taxes introduced, the 2017 Budget did not increase the Small Business Corporate Income Tax Threshold to $500,000,” added Alward. “This leaves Manitoba as the only province left to increase its threshold.”
“We have previously commended the Manitoba Government’s bold actions to reduce red tape for Manitoba entrepreneurs,” stated Alward. “The Budget highlights Bill 22, the Regulatory Accountability Act and Amendments to the Statutes and Regulations Act, which will create a framework to measure and report regulations, improves accountability, and will reduce one piece of compliance for every new one introduced.”
“We were hoping the Manitoba Budget would take the bold, necessary steps to fix the province’s fiscal fundamentals by introducing sustainable spending levels, with a clear plan to get back to balance,” concluded Alward. “Unfortunately, this Budget will be remembered as a missed opportunity.”
To arrange an interview with Jonathan Alward, please call 1-888-234-2232, 204-982-0817, or e-mail [email protected]. You can also follow CFIB Manitoba on Twitter @cfibMB.
CFIB is Canada’s largest association of small- and medium-sized businesses with 109,000 members (4,800 in Manitoba) across every sector and region.