Manitoba has tough choices as it faces $1.3B deficit: experts
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With both Manitoba and Canada facing deficits far exceeding what they had hoped, experts warn drastic measures will be needed but fear Manitobans will be the ones paying.
With both Manitoba and Canada facing deficits far exceeding what they had hoped, experts warn drastic measures will be needed but fear Manitobans will be the ones paying.
This comes as Manitoba Finance Minister Adrien Sala presented a financial update Monday, projecting a $1.3 billion shortfall. A deficit more than $500 million over what was forecasted.
“We're seeing significant cost overruns in health, and to put it simply, we're seeing too much money being spent in the boardroom rather than at the bedside,” Sala told reporters Monday.
But the province isn’t alone.
In Ottawa, the fall economic statement revealed a $61.9 billion deficit—more than $21 billion over what the feds promised last year. This, the government said, is driven largely by $18 billion in Indigenous claims expenses.
The feds also listed $24.2 billion in new spending over six years, including $1.3 billion for border security.
The red ink has Manitoba Chambers of Commerce President and CEO Chuck Davidson concerned.
