If Toronto’s housing market continues to cool there would be substantial negative implications for provincial revenues.
The Wynne government’s fiscal plan calls for an average of $11.8 billion annually in new debt between now and 2019/20.
By restraining the growth in program spending, Quebec balanced it’s operating budget.
Provincial Finance Minister Charles Sousa tells an upbeat story about a booming Ontario, but reality is more complicated. The province’s finances remain a mess.