ontario government spending
Ontario’s net debt has approximately doubled over the last decade and now stands at roughly $300 billion—or $21,000 per Ontarian.
While some provinces have taken steps to rein in spending and balance budgets, Ontario is a laggard and Alberta has embarked on a new road to debt.
The Ontario government is considering subsidies for the province’s fashion industry, which is a bad a idea for many reasons.
Ontario’s government is spending more than it takes in each year. This year will represent the province’s eighth consecutive budget deficit.
On Thursday, Finance Minister Charles Sousa will provide an update for Ontarians on the state of provincial government finances.
The Ontario government has dug itself deep into debt and continues to spend more than the revenue it brings in each year.
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.
Ontario’s chronic budget deficits have been a problem for more than a decade, as they initially surfaced during the early 2000s but came back with a vengeance once the recession struck.