By PAUL TURENNE, WINNIPEG SUN
The amount of provincial debt on the head of each and every Manitoban will grow from about $10,700 each to $11,800 each, according to the budget released Tuesday.
The $11.3 billion provincial spending blueprint predicts Manitoba's debt will grow from $13.2 billion this year to about $14.8 billion next year.
"When the economy turns around and we have more revenue we can make larger payments," Finance Minister Rosann Wowchuk said. "We've put some of those payments on hold because we want to invest in people."
The 2011/12 budget contains a number of tax changes, including an increase in the tobacco tax of two cents per cigarette, a $500 tax credit for children's art and culture programs that is projected to save families up to $54 per child, and an increase in the basic personal tax exemption, which will save each Manitoban about $27 per year on their income tax.
Increases in university tuition are being tied to the rate of consumer inflation, while capital funding for infrastructure and transit for cities is being tied to 1% of what the government brings in through provincial retail sales tax.
The budget predicts a core government deficit of about $464 million, even after a $49.5 million draw from the rainy day fund.
The government predicts that it will bring in $10.77 billion in revenue, and will spend $11.35 billion in capital, programming, and services.
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