Finance | Province of Manitoba (2024)

Manitoba Finance is responsible for managing the province's fiscal and financial resources, allocating funds to other governmental departments and promoting an open government and engaged Manitobans.

Our Vision: A strong and thriving Manitoba

Our Mission: Helping to make Manitoba prosperous and safe to live, work and invest.

Our Values:
• Responsible stewards of public data, funds and information
• Impartial, reliable, open services
• Foster awareness, understanding and collaboration
• Ethical, professional, diverse and inclusive

Crown Services Division
Financial Institutions Regulation Branch
Financial Literacy Resource Website
Fiscal Policy and Corporate Services Division
The Information and Privacy Policy Secretariat
Manitoba Bureau of Statistics
Manitoba Securities Commission
Manitoba Tax Assistance Office
Pension Commission
Taxation Division

Treasury Division

Crown Services Division

  • Provides strategic, regulatory and policy support for Manitoba’s Crown corporations and assists in the reporting and oversight of all Crown Corporations governed by the Crown Corporation Governance and Accountability Act.
  • Ensures alignment between government and Manitoba’s Crown Corporation priorities (including the issuance of Ministerial Mandate Letters and Directives to the Crown Corporations to promote alignment with government priorities and policy).
  • Works collaboratively with Crown Corporations, departments, the private sector and non-government organizations to deliver effective an consistent policy analysis, planning and reporting requirements under the act.
  • Manages legislative and regulatory needs, provides analysis of major capital proposals and liaises with Crowns to address concerns of Manitobans.
  • Ensures compliance with reporting requirements of the act, and provides analysis and advice with respect to business plans, capital plans and other major decisions that boards of the Crown Corporations may make.

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Financial Institutions Regulation Branch

  • Regulates financial institutions and cooperatives in Manitoba.
  • Reviews and approves the corporate legal documents for credit unions, caisses populaires and cooperatives.
  • Maintains a legal registry for credit unions, caisses populaires, cooperatives and insurance companies.
  • Mediates disputes between consumers, agents, adjusters and insurance companies; as well as member disputes with their credit union, caisse populaire or cooperative.
  • Authorizes trust and loan companies to operate in Manitoba.

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Fiscal Policy and Corporate Services Division

  • Provides research, technical and analytical support in respect of national and provincial fiscal and economic matters and intergovernmental finance relations, including cost-shared programs.
  • Administers fiscal arrangements and tax collection agreements with the Federal Government as well as tax credit programs with the federal government and municipalities.

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Manitoba Bureau of Statistics

  • MBS works with the Manitoba government's departments and agencies to address specific information requirements.

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Manitoba Securities Commission

  • Protects Manitoba investors and facilitates dynamic and competitive capital and real estate markets to promote economic development while fostering public confidence in those markets.
  • Provides a regulatory framework for the insurance sector, trust and loan companies, credit unions and caisses populaires, and cooperatives operating in Manitoba.

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Manitoba Tax Assistance Office

  • Informs and assists residents of Manitoba on the Manitoba income tax and tax credit programs.
  • Monitors all claims to ensure accuracy, corrects inaccurate claims and recovers ineligible amounts previously claimed by taxpayers.

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Pension Commission

  • Information for Plan Members
  • Information for Industry & Sponsors
  • Information for One-Time Transfer

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Taxation Division

  • Current information about retail sales tax, health and post secondary education tax levy, tobacco tax, fuel tax, corporation capital tax, insurance corporations tax, mining tax and emissions tax on coal and petroleum co*ke.

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Treasury Board Secretariat

  • Provides analytical support to the Treasury Board in fulfilling its responsibilities for fiscal management, program and organizational review, including the integration of policy decisions with the longer term fiscal plans of government.
  • Analyzes and monitors program performance measures and the fiscal position of the Government of Manitoba and plans and co-ordinates the budgetary process.
  • Undertakes strategic initiatives and targeted program reviews and co-ordinates the use of balanced scorecards across government.
  • Establishes and oversees corporate comptrollership and financial management policies for government.
  • Provides internal audit and advisory services to government departments and agencies relating to internal controls. Prepares the Summary Public Accounts for summary government in accordance with Public Sector Accounting Standards.
  • Evaluates and oversees accounting and financial management policies and systems across government to effectively deliver summary financial statements that reflect the actual financial position of the Government of Manitoba.

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Treasury Division

  • Manages and administers the cash resources, borrowing programs, and all investment and debt management activities of the government.

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Finance | Province of Manitoba (2024)

FAQs

Finance | Province of Manitoba? ›

This statistic shows the revenue and expenditure of the provincial government of Manitoba from 2007 to 2021. In 2021, Manitoba's provincial government had a revenue of around 19.7 billion Canadian dollars.

How much debt is Manitoba in? ›

Summary Budget
2023/24 Budget2022/23 Forecast*
Expenditure21,87720,961
Net Income (Loss)(363)(378)
Summary Net Debt31,05729,415
Net Debt to GDP34.6%33.5%
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What is the revenue of the Manitoba government? ›

This statistic shows the revenue and expenditure of the provincial government of Manitoba from 2007 to 2021. In 2021, Manitoba's provincial government had a revenue of around 19.7 billion Canadian dollars.

How much money does Manitoba make? ›

Manitoba has a moderately strong economy based largely on natural resources. Its Gross Domestic Product was C$71 billion in 2017. The province's economy grew 2.22% from 2015 to 2016.

Are Manitobans getting money from the government? ›

+ Who will receive payments? Payments will be sent to all adult singles and couples with 2021 family net income under $175,000. Persons' family net income and marital status will be determined based on their 2021 Manitoba income tax return.

Which state owns the most debt? ›

U.S. state and local government outstanding debt 2021, by state. In 2021, the federal state of California had about 541.24 billion U.S. dollars of debt outstanding, the most out of any state. New York, Texas, Illinois, and Florida rounded out the top five states with the most debt outstanding in 2021.

Which province has the highest debt in Canada? ›

Newfoundland and Labrador has the highest debt-to-GDP ratio among the provinces at 41.6 per cent in 2023/24, while Alberta recorded the most substantial increase in its debt-to-GDP ratio between 2007/08 (-13.4 per cent) and 2023/24 (9.0 per cent)—a hike of 22.4 percentage points.

Where do Manitoba taxes go? ›

More than 75 per cent of provincial taxes and fees cover our largest social envelopes - health care, public and post-secondary education and social services to help vulnerable Manitobans.

How much does Manitoba make a year? ›

The Government of Manitoba balances over $22 billion of revenues, including own-source revenues and federal transfers, with expenditures that flow to departments and other reporting entities. This year, revenue exceeds expenditures by $270 million.

Are taxes high in Manitoba? ›

The tax rates in Manitoba range from 10.8% to 17.4% of income and the combined federal and provincial tax rate is between 25.8% and 50.4%. Manitoba's marginal tax rate increases as your income increases so you pay higher taxes on the level of income that falls into a higher tax bracket.

Is Manitoba cheap to live in? ›

Cost of Living in Manitoba

Manitoba is one of the most affordable provinces in Canada in terms of cost of living. The average cost of living in Manitoba is $1539, which is 1.1 times less expensive than the Canadian average. This makes it a great option for those looking to move to Canada on a budget.

How much is $50,000 a year in Manitoba? ›

A salary of $50,000 per year means that you would be taking home about $38,594 per year after taxes, or $3,216 per month to pay for things like housing, transportation, groceries, and entertainment. The average household income in Winnipeg is $98,700.

What is Manitoba's biggest industry? ›

The largest industries by revenue in Manitoba are Credit Unions, Oil Drilling & Gas Extraction and Gasoline & Petroleum Wholesaling, which generated $17.2b, $15.3b and $4.6b in 2024.

How much is the grocery allowance in Manitoba? ›

A single senior with $20,000 in net income will receive $233.50 for groceries. This is in addition to the roughly $701 he receives this benefit year through the GST Credit. A couple with two children and $35,000 in net income will receive $467 for groceries.

How much is the Manitoba cost of living payment? ›

Cost-of-living payments

The provincial Family Affordability Benefit was a one-time payment provided in fall 2022 to households with children, who received $250 for the first child and $200 for each additional child.

What is the family benefit in Manitoba? ›

Family Affordability Benefit Payment

As part of the new Family Affordability Package, every Manitoba family with a household net income of under $175,000 in 2021, who have children under 18 years of age will receive a $250 cheque for the first child plus an additional $200 for each additional child under 18.

How much of Manitoba's GDP is in debt? ›

Manitoba's deficit for 2024-25 amounts to 0.9% of GDP. Manitoba's net debt to GDP ratio is projected to be 38.5% for 2024-25. The net debt is projected to peak at 39.1% of GDP in 2025-26 before falling back to 38.3% of GDP by 2027-28.

What province is in the most debt? ›

The combined federal-provincial debt burden as a share of the economy ranges from a low of 43.5% in Alberta to a high of 92.6% in Nova Scotia. Quebec has the second highest debt burden relative to GDP at 88.0%.

How much debt does Manitoba Hydro have? ›

Hydro's debt already stands at $24.6 billion. "Yeah, there's a lot of problems in that equation," said Graham, who was appointed board chair in December, when the NDP dismissed board members appointed by the previous Progressive Conservative government.

What is the debt per capita in Manitoba? ›

GDP – 2019Per capita – 2021
%dollars
Manitoba36.717,304
Saskatchewan12.08,073
Alberta8.88,976
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Nov 22, 2023

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