City of Winnipeg Budget Highlights:
- A 2.33% property tax increase.
- About $30 million less in spending on road repair.
- A reduction in the business tax (from 5.14% to 4.97%) and an increase in the rebate threshold (to $33,900).
- The creation of the Department of Innovation, Transformation, and Technology.
- A one-point reduction in the dividend transferred from water and utility rates to general revenue.
- No new fees, and business-related fee increases are at the rate of inflation.
- $3.15 million for driver safety shields in transit buses
You can find the full city budget at – www.winnipeg.ca/budget
Province of Manitoba Budget Highlights:
- The major highlight is Provincial government will fulfill its election promise to reduce the PST from 8% to 7% effective July 1, 2019.
- The projected deficit is to reduce to $360 million.
- The amount budgeted for the film and video production tax credit has nearly doubled, to $31.5 million.
- Federal transfers are up about $324 million compared to 2018-19.
- Spending is flat, with an overall increase of only 0.3%, and some reductions in funding for infrastructure and post-secondary institutions.
You can find the full provincial budget at – www.gov.mb.ca/budget2019/
Thank you to the Winnipeg Chamber of Commerce for their summary of both budgets.