The Wynne government estimates it will add $11.5 billion in net debt in 2015/16.
Government Spending & Taxes
Provincial program spending between 2004/05 and 2014/15 increased by nearly 100 per cent.
Province’s net financial position could decrease by another $14 billion in 2016/17, making it a net debtor province.
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.
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