Latest news with #AdrienSala
CTV News
12-06-2025
- Business
- CTV News
Manitoba businesses affected by wildfires can apply for tax deferrals
Manitoba businesses that have been impacted by the wildfire situation in the province can now apply for tax relief. Finance Minister Adrien Sala announced the relief plan Thursday afternoon in a news release, saying eligible businesses can start applying this week. 'Our main priority as a government has been to keep people safe and supporting Manitobans impacted by wildfires. This wildfire season has been worse than many in recent years and we're using every tool available to us to help Manitobans during this challenging period,' Sala said in the release. Businesses will be able to apply for a penalty and interest waiver when paying any provincially administered taxes. 'This option is being provided as many wildfire-affected businesses may not have access to relevant records, technical resources or the capacity to file at this time,' the province said. Details about the tax process can be found online.
Global News
10-06-2025
- Business
- Global News
Credit rating agency says Manitoba's recent tax changes outweigh affordability offers
The Manitoba government is expected to use more 'revenue levers,' similar to its recent income and property tax changes, as part of its plan to reduce the deficit, a credit-rating agency report says. S&P Global Ratings has affirmed the Manitoba government's existing short-term and long-term credit ratings and says the outlook for the province is stable, based in part on expected revenue changes and spending control. 'The stable outlook reflects our expectation that, despite economic growth and trade uncertainty, Manitoba will deploy revenue levers and expenditure management to generate stronger fiscal outcomes in the next two years,' the report, issued May 26, said. The NDP government, elected in 2023, has promised to reduce costs for Manitobans. It has taken out advertising to promote its cut to the provincial fuel tax, an increase to a tax credit for renters and other measures. Story continues below advertisement But the money forgone by the province for those measures is outweighed by recent tax changes that are boosting provincial revenues, a director with S&P said. That includes a change in this year's budget that will no longer see income tax brackets automatically rise in line with inflation. Get daily National news Get the day's top news, political, economic, and current affairs headlines, delivered to your inbox once a day. Sign up for daily National newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy 'That alone is enough to offset all the affordability measures that they're putting in,' Bhavini Patel, director in S&P's Canadian international public finance group, said in an interview. The NDP government has promised to balance the budget before the next election, slated for 2027. That would end a string of annual deficits that stretches back almost continuously to 2009, with the exception of two surpluses. Part of the province's revenue growth has come from recent changes that will see many property owners and income-earners pay more. In last year's budget, the government changed the way education tax credits on property are calculated. The government estimated the change would net the province an extra $148 million a year, although that number is likely to grow due to recent increases in property assessments and taxes levied by school divisions. In this year's budget, the government stopped indexing income tax brackets and the basic personal exemption to inflation. By keeping the brackets and exemption constant as wages increase, unlike most provinces, the government is forecasting an extra $82 million in revenue. Story continues below advertisement Finance Minister Adrien Sala said he's not looking at future tax changes aimed at garnering more money, and is expecting an economic boost to increase revenue. 'I think the biggest driver of new revenues will be economic growth,' he said in an interview. He pointed to the recent start of construction of the Alamos gold mine near Lynn Lake as an example. The government is also looking at keeping annual spending growth in check in order to balance the budget, he said.
CTV News
10-06-2025
- Business
- CTV News
Government watchdog gives Manitoba minister title of ‘worst finance minister in the country': report
Manitoba Finance Minister Adrien Sala has received an overall F grade from the Canadian Taxpayers Federation on provincial spending, debt, debt interest and tax relief. (THE CANADIAN PRESS/John Woods) The Canadian Taxpayers Federation (CTF) has given Manitoba's finance minister the title of 'worst finance minister in the country,' according to a report on provincial government spending. The organization that is 'dedicated to lower taxes, less waste and accountable government' released its 2025 Finance Minister Report Card—ranking ministers based on provincial spending, debt, debt interest, and tax relief. The report compared provincial budgets from last year to this year and took into consideration other provincial fiscal announcements. Manitoba Finance Minister Adrien Sala received the lowest grade according to the report, an overall F, which he shares with Newfoundland and Labrador's Finance Minister Siobhan Coady. The report indicates that Coady also received the title of 'worst finance minister in the country.' Lowest grade for tax relief among provinces: report 'Unfortunately, Manitoba is not performing well financially compared to other finance ministers in the country,' said Gage Haubrich, CTF prairie director. 'Manitoba was one of the only provinces this year to actually hike taxes in its provincial budget, and it did in a sneaky, underhanded way, known as bracket creep,' he said. Haubrich said that Manitoba's government has stopped linking income tax brackets to inflation, which will cost Manitoba taxpayers $82 million this year, per the report. Manitoba received the lowest grade for tax relief among the provinces. 'So that means just by getting a cost-of-living raise, not actually making any more money, you can get bumped up into a higher tax bracket, and that increases your taxes,' said Haubrich. Gage Haubrich Canadian Taxpayers Federation prairie director Gage Haubrich said that the provincial government's decision to stop linking income tax brackets to inflation is 'a very sneaky tax hike.' (Zoom) He said the longer bracket creep sticks around, the more money taxpayers are going to pay from compounding inflation. 'It's a very sneaky tax hike,' Haubrich said. He added the last time Manitoba got rid of bracket creep was in 2017. The report says that the government 'introduced a small cut to the province's payroll tax and an increase to the homeowner's affordability tax credit' but adds that the cuts save taxpayers less than what the bracket creep will cost them. F grade for debt interest payments: report Manitoba also received an F grade for debt interest payments, along with Quebec and Newfoundland and Labrador. The report says that the Manitoba debt interest payment will be $2.3 billion this year, working out to be $1,554 per person, only behind Newfoundland and Labrador at $2,088 per person. The province also received a D grade for a spending increase, listed at approximately 7.1 per cent, and the same grade for debt, which is planned to increase to $1 billion compared to last year's budget, per the report. 'Manitoba is on solid financial footing,' says Sala In an emailed statement from Sala, he said, 'Our plan was recently given an A+ by S&P Global Ratings, which means independent experts believe Manitoba is managing its finances responsibly.' 'This lowers borrowing costs and creates more stability for Manitobans in uncertain times, with a greater capacity to invest in the things that matter, like health care, affordability and public safety.' Sala added that 'Manitoba is on solid financial footing.' The report says that Saskatchewan's finance minister is 'performing the best,' with an overall B+ grade. 'No finance minister in the country earned an A grade for their budget, because all finance ministers are continuing or planning to rack up debt and waste millions of taxpayer dollars on debt interest payments,' says the report.
CTV News
10-06-2025
- Business
- CTV News
Credit rating agency says Manitoba's recent tax changes outweigh affordability offers
Manitoba Finance Minister Adrien Sala speaks to media at a press conference before the provincial budget is read at the Manitoba Legislature in Winnipeg, Thursday, March 20, 2025. THE CANADIAN PRESS/John Woods WINNIPEG — The Manitoba government is expected to use more 'revenue levers,' similar to its recent income and property tax changes, as part of its plan to reduce the deficit, a credit-rating agency report says. S&P Global Ratings has affirmed the Manitoba government's existing short-term and long-term credit ratings and says the outlook for the province is stable, based in part on expected revenue changes and spending control. 'The stable outlook reflects our expectation that, despite economic growth and trade uncertainty, Manitoba will deploy revenue levers and expenditure management to generate stronger fiscal outcomes in the next two years,' the report, issued May 26, said. The NDP government, elected in 2023, has promised to reduce costs for Manitobans. It has taken out advertising to promote its cut to the provincial fuel tax, an increase to a tax credit for renters and other measures. But the money forgone by the province for those measures is outweighed by recent tax changes that are boosting provincial revenues, a director with S&P said. That includes a change in this year's budget that will no longer see income tax brackets automatically rise in line with inflation. 'That alone is enough to offset all the affordability measures that they're putting in,' Bhavini Patel, director in S&P's Canadian international public finance group, said in an interview. The NDP government has promised to balance the budget before the next election, slated for 2027. That would end a string of annual deficits that stretches back almost continuously to 2009, with the exception of two surpluses. Part of the province's revenue growth has come from recent changes that will see many property owners and income-earners pay more. In last year's budget, the government changed the way education tax credits on property are calculated. The government estimated the change would net the province an extra $148 million a year, although that number is likely to grow due to recent increases in property assessments and taxes levied by school divisions. In this year's budget, the government stopped indexing income tax brackets and the basic personal exemption to inflation. By keeping the brackets and exemption constant as wages increase, unlike most provinces, the government is forecasting an extra $82 million in revenue. Finance Minister Adrien Sala said he's not looking at future tax changes aimed at garnering more money, and is expecting an economic boost to increase revenue. 'I think the biggest driver of new revenues will be economic growth,' he said in an interview. He pointed to the recent start of construction of the Alamos gold mine near Lynn Lake as an example. The government is also looking at keeping annual spending growth in check in order to balance the budget, he said. This report by The Canadian Press was first published June 10, 2025. Steve Lambert, The Canadian Press
Hamilton Spectator
10-06-2025
- Business
- Hamilton Spectator
Credit rating agency says Manitoba's recent tax changes outweigh affordability offers
WINNIPEG - The Manitoba government is expected to use more 'revenue levers,' similar to its recent income and property tax changes, as part of its plan to reduce the deficit, a credit-rating agency report says. S&P Global Ratings has affirmed the Manitoba government's existing short-term and long-term credit ratings and says the outlook for the province is stable, based in part on expected revenue changes and spending control. 'The stable outlook reflects our expectation that, despite economic growth and trade uncertainty, Manitoba will deploy revenue levers and expenditure management to generate stronger fiscal outcomes in the next two years,' the report, issued May 26, said. The NDP government, elected in 2023, has promised to reduce costs for Manitobans. It has taken out advertising to promote its cut to the provincial fuel tax, an increase to a tax credit for renters and other measures. But the money forgone by the province for those measures is outweighed by recent tax changes that are boosting provincial revenues, a director with S&P said. That includes a change in this year's budget that will no longer see income tax brackets automatically rise in line with inflation. 'That alone is enough to offset all the affordability measures that they're putting in,' Bhavini Patel, director in S&P's Canadian international public finance group, said in an interview. The NDP government has promised to balance the budget before the next election, slated for 2027. That would end a string of annual deficits that stretches back almost continuously to 2009, with the exception of two surpluses. Part of the province's revenue growth has come from recent changes that will see many property owners and income-earners pay more. In last year's budget, the government changed the way education tax credits on property are calculated. The government estimated the change would net the province an extra $148 million a year, although that number is likely to grow due to recent increases in property assessments and taxes levied by school divisions. In this year's budget, the government stopped indexing income tax brackets and the basic personal exemption to inflation. By keeping the brackets and exemption constant as wages increase, unlike most provinces, the government is forecasting an extra $82 million in revenue. Finance Minister Adrien Sala said he's not looking at future tax changes aimed at garnering more money, and is expecting an economic boost to increase revenue. 'I think the biggest driver of new revenues will be economic growth,' he said in an interview. He pointed to the recent start of construction of the Alamos gold mine near Lynn Lake as an example. The government is also looking at keeping annual spending growth in check in order to balance the budget, he said. This report by The Canadian Press was first published June 10, 2025. Error! Sorry, there was an error processing your request. There was a problem with the recaptcha. Please try again. You may unsubscribe at any time. By signing up, you agree to our terms of use and privacy policy . This site is protected by reCAPTCHA and the Google privacy policy and terms of service apply. Want more of the latest from us? Sign up for more at our newsletter page .
