Selinger NDP’s projected deficit balloons 30 per cent to $550 million

Statement from Progressive Conservative finance critic Cameron Friesen

The quarterly financial report just released by the Selinger NDP paints a gloomy picture of an already dismal financial performance and will surely lead to further credit downgrades and tax increases.

The second-quarter financial report presents information for the six months ending September 30, 2015, as well as projections for the end of the fiscal year.

It is hard to know where to start in describing how the Selinger NDP has failed Manitobans by mortgaging our children’s future. Wasteful government spending is projected to be $139 million more than budgeted for the fiscal year 2015-2016.

The projected summary deficit is now $550 million – up by $128 million from the budgeted amount of $422 million. Summary budgeting includes such things as Crown corporations, regional health authorities, school divisions, universities and colleges. It is a much more realistic account of government finances, also known as the ‘real deficit.’ This number is staggering – Manitobans are tired of paying more and getting less.

The debt hole the Selinger NDP is digging for future generations is getting deeper and deeper by the day. Every dollar squandered by this wasteful government is another dollar not spent on health care, education or other essential front-line services.