Concerns over Manitoba's economic future and Greg Selinger

Today we are hearing more and more evidence that a recovery from the economic depression may be starting to occur. And yet, there is also much to indicate that the recovery in the United States will be slow and long. Last night, I was talking to a local architect, and he tells me that during a recent strip to the United States he learned that in many major cities in the United States 40% of architects are out of work, and in some it is 60%. We are fortunate that this is not the case here in Manitoba, but we also know that what happens in the United States can have a big impact here as the US is our largest export market.

So, we need to be concerned about Manitoba's economic situation and the financial situation of our government. For example, in the first quarter financial report, revenues for present (09/10) fiscal year were $2.69 billion compared to the 08/09 actual revenue of $3.01 billion. This is a decrease of $320 million. Expenditures in the same period were $2.87 billion an increase of $88 million from the $2.79 billion in last year (08/09). While there may be many reasons for this, the trend is a concern.

Also of concern is that the new Premier, Greg Selinger, while Finance Minister, changed the balanced budget legislation so that he can call a deficit in core government operations a balanced budget. For this fiscal year, the budgeted deficit is for $88 million. Most of us call spending more than you earn a deficit. It is troubling that Mr. Selinger is trying to cover up a deficit and calling this budget balanced. This is misleading at a minimum. It is very troubling to have a politician who is doing this at a time when we have heightened concerns about our economic future in Manitoba.