WINNIPEG, Man. - Manitoba released its 2002 budget at the end of April, only after being assured the feds will cover the majority of a nearly $500 million overage.With that in mind, the provincial gov...
WINNIPEG, Man. – Manitoba released its 2002 budget at the end of April, only after being assured the feds will cover the majority of a nearly $500 million overage.
With that in mind, the provincial government unveiled its financial plan for the current year, which contained spending increases in a few key areas, while money was cut back in others.
The highlight of the budget for the trucking industry is a new five year, $600 million highways program. Few details about the program were released. However, Finance Minister, Greg Selinger, also announced highways spending would increase by 16 per cent this year, to $120 million.
A 10 per cent tax credit is aimed at increasing mineral exploration in the province.
Owner/operators in Manitoba will be pleased to hear there is a tax break included for small businesses with up to $400,000 taxable income.
Not everyone was pleased with the budget, however, as Manitoba became the highest taxed province west of Quebec.
As well, critics have been quick to point out the allotted funding is just a drop in the bucket compared to what’s needed.
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