In his autobiography, McGuinty discusses how his first act as premier was to break his election promise and raise taxes.
ontario deficit
February 10, 2016
3:00AM
Dalton McGuinty laments that the Great Recession stunted his plans to expand Ontario public services
February 3, 2016
2:50PM
Ontario will run its eighth consecutive budget deficit in 2015/16, with a projected $7.5 billion shortfall.
January 28, 2016
3:00AM
This year, Ontario is projected to run its eighth consecutive budget deficit, which will be approximately $7.5 billion.
December 21, 2015
3:00AM
Between 2001 and 2008, Ontario provincial government spending grew at an average of five per cent annually while revenues only grew four per cent.
November 18, 2015
9:30AM
The Ontario government has pledged to eliminate its budget deficit by 2017/18. However, the government’s recent record on fiscal issues casts doubt on whether it will meet this target.
November 17, 2015
4:00AM
Recent deficit reduction track record is quite weak, which is why Ontario is still running an $8.5 billion deficit in 2015/16, several years after the recent recession.
June 25, 2015
10:00AM
According to the Globe and Mail, Ontario Premier Kathleen Wynne has a new advisor, former TD Bank chief executive officer, Ed Clark. Mr. Clark will apparently advise the government on a host of issues including finding new sources of revenue to help balance the provincial budget.
June 18, 2015
10:00AM
Despite the talk of painful austerity, Ontario’s recent budget continues to bleed red ink. Finance Minister Charles Sousa projects a deficit this year of $8.5 billion, and doesn’t predict an actual balancing of the books until 2017-18 fiscal year.
January 25, 2015
9:00AM
How governments manage their finances matters a great deal. Spend and borrow too much and the result is a spiral of increasing deficits that create ever higher debt. Then, ever-more tax dollars end up spent on debt interest—not on education, health care, administering provincial courts, or other areas in which provincial governments are involved.
July 19, 2014
6:00AM
The other day former Ontario Premier Bob Rae, fumed at a column by economist Jack Mintz who noted the similarities between the current Kathleen Wynne government and Rae’s reign as premier of Ontario, specifically the “high deficits, debt and taxes.”