The average Ontarian is now poorer than the average Canadian.
Government Spending & Taxes
In the absence of additional action, Ontario budget deficits will continue to at least 2020-21.
Are we really going to spend $135 million on talk shows?
With more tax credits, the government has to keep income tax rates higher to raise the same amount of revenue.
This week’s 2016 Economic Statement cut average growth to 1.7 per cent over the next five years.
The government has removed its annual safety cushion of $6 billion per year.
Reports in advance of Ottawa’s federal fiscal update suggest the deficit may reach $34 billion.
Ontario had to write-off $1 billion of taxpayer money from the General Motors/Chrysler bailout.
Amazingly, the federal government offers no cost estimates of more than 90 tax expenditures.
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