The victors write the history. And Manitoba politics are no different. When the Tories took the reigns of power a decade ago, there was no end of NDP bashing for the financial mess left behind.

Right or wrong, the Tories can expect a rough ride on the deficit question now that their rivals are in the driver's seat.

Did the Tories set fire to the finances before turning the keys over to the new government, or are the NDP cooking the books to damage the reputation of the outgoing government At this point, it's nothing more than idle speculation.

What matters of course is the threat of a deficit. The last recorded deficit was $196 million in 1994, one year before the passage of the balanced budget law. Then, the province's finances were in the doghouse.

Public debt costs were $597 million compared to $481 million today. That's $116 million that otherwise would not have been available for tax relief and spending. The per capita debt servicing costs were also $110 higher than today.

Manitobans should consider how a deficit would affect the province's credit rating, ability to attract business investment, and employment opportunities.

If the deficit is real, it would be tragic for the Tories to break their own law. You might sympathize with the NDP for inheriting someone else's sins, but you cannot absolve them from their fiduciary duty to balance the budget.

During the election campaign, the NDP committed to uphold the balanced budget law. It was a promise that helped get them elected. To simply cry foul and run a deficit would result in the NDP's first major broken promise - only a few months into their term.

The NDP should not even consider raising taxes or postponing scheduled tax cuts. We already pay half of our income in taxes. Manitoba cannot afford to fall behind other provinces in the race for lower taxes. The NDP should also resist the temptation to raid the $250 million rainy day fund. The fund was designed to lower the $6 billion provincial debt, not to offset spending hikes.

The way to avoid a deficit is simply to cut non-priority expenditures:

Exhibit 1: Why is the province operating money-losing public sector country clubs at Hecla Island and Falcon Lake Sell off the hotel, the golf courses, and the lawn bowling.

Exhibit 2: The Department of Industry Trade and Tourism spends over $10 million per year on corporate welfare. Level the playing field and cut-off the pork barrel.

Exhibit 3: Culture Heritage and Citizenship spends about $20 million on arts and cultural funding. Can't we save a few bucks here too

Exhibit 4: Why on earth is the government marketing booze The province could make a fortune by putting all the public sector liquor marts on the auction block.

Exhibit 5: A number of low-priority departments could be trimmed if not altogether eliminated. For example, the Department of Sport costs taxpayers $10.5 million. The Status of Women's budget is $1.2 million. The Seniors Directorate is $929 thousand. And the Department of Housing costs $45 million. Shouldn't government get out of the real-estate business

Exhibit 6: The nationalization of Centra Gas this year cost $245 million. Re-privatize it and get the money back.

The purported deficit is the first test of the NDP's pre-election promise to balance the books. The province's economic health hinges on the right decision.