Rather than balancing the budget, Ontario plans to have an $8 billion deficit in the coming year
The surprise victory of Doug Ford winning the leadership of Ontario’s Progressive Conservative party over the weekend had the unfortunate effect of distracting voters from another one of last week’s big announcements.
The Wynne government signaled that it would be unveiling a spending spree on social programs in its March 28th budget. And the question Ontarians need to worry about is whether that splurge is even fiscally sustainable. The way things look now, it most certainly isn’t.
Ontario Finance Minister Charles Sousa announced last Wednesday that his government has decided to backtrack on its promise to balance its budgets, with plans for an irresponsible $8 billion deficit in the coming year. Continue Reading →