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Originally Posted by FactaNV
We seriously need to attract more industry to the province. Heavy industry and green tech should be priorities due to our energy and proximity to the North American market via rail.
There are also some revenue streams that could be explored such as rejigging the formula on mineral extraction, especially with critical minerals like lithium or gold.
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Spot on. The economy needs to grow.
Manitoba GDP is around $75B. Tax base around $22B. So roughly a 30% tax to GDP ratio. So to make up the $7B shortfall without increasing taxes, GDP needs to increase about $23B. That's on a purely productive basis, not including population and service expansion (roads, health, social, etc). But it's a good starting target.
Minerals are a start. I don't like
Manitoba's Mining Tax Structure. It's progressive, on profits only. Which disincentivizes expansion. It also creates $0 tax revenue on break even operations, which are easy to achieve via accounting. A miner could pull billions of dollars of minerals and MB gov earn $0 from it directly. That's bad. Mining tax should be a straight royalty IMO. Off topline revenue. Not profit.
-Hydro is leaving at least $5B/yr on the table, topline. They're absolutely asleep during the biggest electrification transition in history.
-Data centers will be big. Which rely on sleepy hydro. We've got the cooling in Manitoba. In fact the data center waste heat can be used to heat downtown or indoor greenhouses. This expands our indoor ag and food security, 2 birds, 1 stone.
-The health sector is also asleep. Building a huge HCW supply and training center could make the province a place for health tourism. Instead of a place patients flee.
-Manufacturing and tech is always key for GDP. Raw commodities are low revenue.
What else are we missing? What else is in the pipeline? Big potential stuff, $5B+ annually.
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