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The 2017 Ontario Budget has suggested some proposals which are expected to have substantial effects on the lives of Ontarians. This budget is a balanced budget and this trend of a balanced budget is expected to continue for the next two years.
Ottawa's most important policy response to lagging growth has been a return to that great theme of Canadian history: building. Sixty per cent of Canada's GDP depends on trade. Canadians need to build now to get our goods and services to the growing global middle class, projected to grow from 1.8 billion today to five billion by 2030.
Canada could be an agricultural "global champion," Dominic Barton says.
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Ever since Federal Finance Minister Bill Morneau announced Monday that the federal deficit would top $18.4 billion, all the familiar voices of right wing commentators, Bay Street analysts and Conservative politicians have made their all-too predictable calls for budget cuts and curtailed spending. They couldn't be more wrong. Now, in fact, is the time for some strategic spending to get the economy going, even if it means increasing the federal deficit when the budget is handed down on March 22.
Road levy. Recreation and culture levy. Transportation for tomorrow tax. Dedicated road tax. Asset levy. Make no mistake: we want our cities to invest in infrastructure. Sewer, water, roads; these are core responsibilities of local government. But repackaging this spending with a new tax is a slap in the face.
They want to speed up the spending of old Conservative funds.
"Infrastructure is a way to opportunities."
Thanks to former Prime Minister Paul Martin, I think we've all been conditioned to think that balanced budgets are very good things. But not all deficits are bad. It is prudent or even smart to slash and scrap into a surplus like Stephen Harper has done. Especially considering that Canada's infrastructure deficit is estimated at nearly $400 billion -- and growing.
Something as dull sounding as public-private partnerships (P3s) has suddenly grabbed headlines thanks to a recent report from Ontario's Auditor General. P3s are an increasingly common tool for governments in Canada, and around the world, to provide infrastructure such as roads and bridges.