Finance Minister and Morden-Winkler MLA Cameron Friesen will deliver Budget 2017 on April 11.

New accountability tax payer protection legislation is expected to be announced, outlining penalties for running a deficit and incentives to stay in balance.

"It's an important landmark for us as a government," Friesen says, adding it will outline their progress since inheriting an almost $1 billion deficit.

"We have to fix these things," he says by curbing overspending.

In the long run, eliminating the deficit will mean more investment in frontline services.

As a gesture of the all-hands-on-deck strategy to eliminate waste, the 40 members of the PC caucus announced Wednesday they will forego any pay increases due to cost of living adjustments.

"It's important, we're trying to send a message to all of Manitoba that the challenge in front of us as a province is very significant," he says. "To fix this situation will take incredible resolve... we have to lead by example."

The risk of flooding this Spring could also have an impact on the province's finances.

"A significant event is another factor we would have to consider as we go into this spring... Manitoba can't afford a flood," Friesen says. "That's the case because our predecessors drained the rainy day account."

Friesen notes the Fiscal Stabilization Account was created to respond to major weather events.

"We don't have that capacity right now," he says.

The Manitoba Legislature went back into session on Wednesday and will continue until June.