Province’s net financial position could decrease by another $14 billion in 2016/17, making it a net debtor province.
Government Spending & Taxes
If interest rates rise faster than expected, Ontario’s annual debt interest payments could increase by up to $857 million in 2017/18.
To eliminate the deficit, Alberta's government should restrain spending.
The problem of a high-cost low-performance system is not just a provincial one—but a Canadian one.
Budget contained no plan to offset the dramatic increase in business taxes associated with reintroducing the Provincial Sales Tax a few years ago.
While saying the public sector should focus more on outcomes, McGuinty refuses to look at the end results of his policies for Ontario’s economic performance.
Prime Minister Trudeau recently mused that not only will the $10 billion deficit ceiling be broken, but the return to a balanced budget by 2019/20 is now in question.
While the overall federal transfer “pie” has grown significantly over the past decade, Ontario’s “slice” has also grown larger.
Subscribe to the Fraser Institute
Get the latest news from the Fraser Institute on the latest research studies, news and events.