Tax cuts and spending hikes: Highlights of Manitoba's pre-election budget

WINNIPEG — Here are the highlights of Tuesday’s Manitoba budget:

— The basic personal exemption on income tax is to rise this year, saving people up to $524.

— Income tax brackets are to be moved higher next year, with the top bracket starting at $100,000 instead of $79,625.

— The threshold at which employers are charged a tax on payroll is to rise next year to $2.25 million from $2 million.

— Overall government spending is forecast to rise by almost 10 per cent from last year, with health care seeing a nine per cent rise.

— Pharmacare coverage for insulin pumps is expanding to all eligible adults with Type 1 and Type 2 diabetes.

— University tuition increases will be limited to 2.75 per cent.

— Government revenues are increasing sharply due to a rebounding economy and higher federal transfer payments.

— The budget predicts a deficit of $363 million, down slightly from the $378 million forecast for the current fiscal year that ends March 31.

This report by The Canadian Press was first published March 7, 2023.

The Canadian Press