The province eliminated its rainy-day account in 2007/08.
The province's massive budget deficit continues a trend that started well before the pandemic.
When Ontario Finance Minister Charles Sousa announced a budget update and a revised, lower forecast for provincial economic growth, it was yet another piece of evidence that Ontario’s economy is sluggish. But Ontario’s problems run deeper than just one fiscal update from one finance minister.
Question: If you’re young, or have very little education, where’s the best place in the country to find a job, make a decent income and prosper? Answer: Alberta, followed by Saskatchewan and British Columbia.
There has been much handwringing over the claimed disappearance of the middle class. From a bestselling international tome to domestic tax-and-spend types who think higher taxes will create more middle-income earners, there is no shortage of those who over-focus on redistribution and underestimate the benefits of opportunity.