Did you know that the fastest growing line item in the Ontario Liberal budget is interest payments on debt? At $11.5 billion, interest on debt is the fourth biggest spending category in the Liberal budget. This might be good for bankers and bondholders. . But it's not good for you. It's not good for most people in Ontario.
Thank you for your letter. I have been writing you for a while now and was getting worried you were never going to write back. I'm getting involved in the Conservative leadership race because I can't stand watching incompetent politicians destroy my country. You and Justin Trudeau are two of them. Rachel Notley would be the third.
Every winter, the Ontario Standing Committee on Finance invites groups to make submissions about what they would like to see in the spring budget. Every year, the Canadian Taxpayers Federation does what no other group in Ontario does: they ask the government to spend less money, not more.
The Canadian Press
The province is back to where it was 2014. And that's good.
Ontario's Liberal government says it is on track to eliminate a $5.7-billion deficit.
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Ontario, the world’s most indebted sub-sovereign borrower, is ploughing ahead with Canada’s most ambitious infrastructure plan -- risking the censure of Standard & Poor’s and underperformance for its...
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Ontario, as with many governments, is lucky its debt interest payments are not substantially higher given its almost doubled debt. That has everything to do with historically low interest rates. But luck is not a long-term strategy for governments -- at least not ones that prefer prudence over accidental fiscal offerings.
OTTAWA - Seniors and those approaching retirement are making up a growing proportion of those filing for insolvency in Ontario and have bigger debts compared to younger people, a report said Monday.An...
TORONTO - Fitch Ratings downgraded Ontario's long-term debt rating Friday, highlighting "risks" on the path to the Liberal government's target of balancing the budget by 2017-18.The rating agency cut...
TORONTO - Ontario's auditor general is sounding the alarm about the province's ballooning debt in her annual report, warning that it continues to grow faster than the province's economy.In her 600-pag...
TORONTO - Higher taxes or further spending cuts will likely be needed if Ontario's Liberal government is to keep its promise of balancing the books in three years, the Conference Board of Canada said...
Ontario has dug itself into a deep financial hole. The responsible thing to do is curb government spending to balance the books. But some analysts are suggesting that Ontario should raise taxes. McGill University's Dr. Christopher Ragan has even called for a carbon tax. This is a terrible idea. The last thing cash-strapped Ontario families can bear right now is a tax on everything.
We've seen this script before. Higher spending. Tax increases. Persistent deficits. Growing debt. Warnings from credit rating agencies. A government unwilling to make the tough choices to turn things around. That's the Ontario of the 1980s and early 1990s. It's also where the province finds itself today.
Bob Rae and Kathleen Wynne are hardly the only (former and current) politicians to engage in storytelling. Politicians of every partisan stripe do the same thing. But while stories are useful and guide us in a variety of beneficial ways, the rational side of human nature should revisit tales now and then, especially political ones. That leads to better, smarter government. Ontario is no exception.