The Ontario government has never made a secret of its desire to have the federal government help fund Ontario’s provincial budget. It even started its own think-tank with $5 million in 2009, which regularly publishes reports that call on the federal government to rescue Ontario’s provincial finances.
Imagine you’re near what you thought was a dormant volcano but it suddenly erupts. Assuming you escape, you might later reflect that there was nothing “sudden” about it.
Ontario’s 2015 budget, like those of years past, needed a concrete plan to get government finances on a sound footing. Yet again, the budget failed to deliver.
Amid a gathering fiscal storm, the Ontario government will soon table its budget for the coming fiscal year and beyond. There’s a lot riding on getting things right.
Ontario’s net public debt is estimated at $287.3 billion and will hit nearly $320 billion by 2017. The evolution of this daunting number is an interesting story as the spring budget approaches.
The day before delivering his budget speech, Quebec Minister of Finance Carlos Leitão called the budget a “good news budget.” Indeed, Quebec’s 2015 budget continues to make progress on tackling deep-rooted fiscal problems.
Alberta and Texas have always had a lot in common. Ranching in the 19th century. A can-do entrepreneurial approach to oil and gas in the 20th century. And in the 21st century they are still somewhat similar.
Premier Jim Prentice dropped hints for months that the 2015 provincial budget was a once-in-a-generation chance to “fix” Alberta’s finances.
It’s just a matter of time before the Eurozone is yet again bombarded by Greek fiscal fire. Every few days or weeks, Greece roots around, looking under the couch cushions for spare change, this to make its next round of debt payments.