The Reminder is making its archives back to 2003 available on our website. Please note that, due to technical limitations, archive articles are presented without the usual formatting.
The latest statistics show Manitoba's provincial and municipal debts are among the highest in the nation. A report from Statistics Canada states that as of March 31, 2002, Manitoba had a combined municipal and provincial net debt of $10.4 billion Ñ just over $9,000 for every person. That's the fourth-highest per capita debt rate in Canada behind Newfoundland ($18,867), Quebec ($14,458) and Nova Scotia ($12,466). Finance Minister Greg Selinger told reporters that the figure does not spell bad news for the provincial economy. "Our debt is shrinking in proportion to the total wealth created in the province every year and that's the most important ratio for bond rating agencies," he said. "They're the ones that give credit ratings, which allow us to borrow money at cheaper rates." The report drew sharp criticism from the Opposition, with Tory Leader Stuart Murray charging that "this government has proven they're incapable of managing Manitoba's economy and financial house." The per capita debts in each province, according to Statistics Canada: Newfoundland- $18,867 P.E.I. - $8,226 Nova Scotia - $12,466 New Brunswick - $8,482 Quebec - $14,458 Ontario - $8,399 Manitoba - $9,025 Saskatchewan - $8,934 Alberta - $0 B.C. - $3,770
