Government borrowing crowds out private investment and lowers the economy’s productive potential.
Due to federal tax changes, 61 per cent of low-income families face higher personal income taxes.
Canada has the fifth-highest level of total indebtedness (relative to the size of our economy) among 29 industrialized countries.
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 isnt 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 Canadas largest province.