WINNIPEG, Man. — Manitoba released its 2002 budget yesterday, after being assured the feds will cover the majority of a nearly $500 million overpayment.
With that in mind, the provincial government unveiled its financial plan for the current year, which was 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.
Owners of small fleets in Manitoba will be pleased to hear there is a tax break included for small businesses with up to $400,000 taxable income.
“To make the most of Manitoba’s opportunities, we have brought in a budget that meets the challenges of today, while building for the future,” says Selinger. “This is a great time to be a Manitoban.”
Not everyone was pleased with the budget, however, as Manitoba became the highest taxed province west of Quebec.
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