The 2007 Manitoba Budget Address
| The Manitoba Budget Address - (PDF size 508 k) |
 |
The Building Budget
Mr. Speaker and Members of the Legislative Assembly:
Manitoba is a changed province today: we have more nurses and doctors, housing values are up, education property taxes are down, building cranes dot the skyline of downtown Winnipeg, youth population is growing, investments in highway construction are at their highest level, and new green energy opportunities are springing up across rural and northern Manitoba. There is a renewed spirit of optimism and strong momentum for growth.
Working together, we have set a new course for our province, based on entrepreneurship and innovation, growing the skills of our hard-working labour force, expanding our natural advantages in renewable resources and opening new markets for Manitoba business at home and around the world. The strong capacity of Manitoba’s business, labour and community leaders to work together for a common purpose means that no objective is too bold, no goal unattainable.
This year, we will build on our collective successes – tomorrow’s opportunities call for us to work even harder today.
Mr. Speaker, it is my honour to present The Building Budget.
Today’s budget focusses on Manitobans’ priorities and lays out our long-term vision for:
- better, faster health care, delivered closer to home
- affordable, quality education and training
- addressing climate change and preserving our water resources and the environment
- building our roads and highways
- making Manitoba a more attractive place for youth
- growing our competitive advantages
- investing in a green and growing economy
- fighting poverty and removing barriers to employment
- building healthier, safer and stronger communities
- providing tax savings for Manitoba families and businesses, and
- continuing with a sound fiscal plan.
Mr. Speaker, I am proud that our government is the first in 50 years to achieve eight straight balanced budgets – seven consecutive budgets under balanced budget legislation and today, for the first time, we are presenting a balanced Summary Budget which fully reflects Generally Accepted Accounting Principles (GAAP) – the first in Manitoba’s history.
Last year, Manitoba’s solid economic performance
outpaced Canada’s on several fronts:
- overall economic growth of 3.1%, as compared to 2.7% nationally;
- 21% growth in construction work, almost double the Canadian average;
- growth in total exports of 17%, the highest among provinces, and far above the Canadian average of 0.5%;
- a 22% increase in building permits, more than double the national increase of 9%, and
- capital investment growth of 14%, compared to less than 9% for Canada as a whole.
Manitoba’s unemployment rate fell to a 30-year low in 2006 – at 4.3% it remained the second-lowest rate among provinces. More Manitobans are working than ever before, after our employment level rose to a new record high in 2006. Some 6,700 new jobs were created last year, almost 90% of which were in the private sector. Additionally, housing starts topped 5,000, the highest level in almost two decades.
Manufacturing in Manitoba showed great strength in 2006, despite the competitive pressures of a high Canadian dollar and some weakness in U.S. markets. Manitoba manufacturers shipped over $14 billion in goods last year, setting a new all-time record high. Budget 2007 builds on this strong performance and our co-operative work with the manufacturing sector, introducing new measures to strengthen competitiveness and productivity.
Manitoba is off to a strong economic start in 2007. Residential construction is increasing; real estate sales continue to grow; manufacturing job growth is strong; and weekly earnings are growing faster than the national average. A recent survey done by the Canadian Federation of Independent Business shows that Manitoba’s business confidence is third strongest among provinces and higher than the national average. Our survey of private sector economic forecasters shows that real economic growth in Manitoba (2.6%) is expected to outpace the national average (2.3%) in 2007, as it did in 2006.
