Another year has come and gone and Ontario's weak public finances remain largely unchanged. The provincial government did little to improve its fiscal position in 2013 and recently signalled it intends to continue with debt-financed spending into the New Year. But the status quo isn't serving Ontarians well. For 2014, the government should chart a new course that places provincial finances on a more sound footing. That would be a much-needed New Year's resolution for Canada's largest province.
It's a wonder that the heads of state and heads of government of the G20 who just met in Russia spent any time at all talking economics. Seriously, how could they pull themselves away from discussing Syria (or Sochi, or Snowden) long enough to actually focus on the international financial system? Sure, that's the explicit purpose of the G20 meetings, but still, let's give credit where credit is due.