Ontarians are already burdened by a $300 billion provincial net debt that has ballooned over the past decade.
Ontario’s net debt is projected to climb to 40.2 per cent of the provincial economy this year.
While the overall federal transfer “pie” has grown significantly over the past decade, Ontario’s “slice” has also grown larger.
The recent elections in Alberta and federally in Canada have elected governments that appear dedicated to increasing government’s interference in the economy.
Business investment is no longer the driving force of capital formation in Ontario. In its place, investment by the public sector has nearly doubled.