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  1. Ontario budget deficit likely larger than forecast

    We recently blogged on the Ontario government’s March 2020 Economic and Fiscal Update (hereafter simply referred to as the Fiscal Update), which we concluded was too optimistic in its economic and revenue assumptions, and included new ...

  2. Ontario’s Lost Decade: 2007–2016

    Between 2007 and 2016, Ontario was mired in a prolonged period of economic weakness during which it lost ground compared to the rest of the country on many important economic indicators. This bulletin examines the extent of Ontario’s economic ...

  3. Repeating Past Mistakes? Spending Restraint Critical for Ontario’s Fiscal Health

    In 2016/17, Ontario’s net debt reached $302 billion, or approximately $21, 500 per Ontarian. The province’s debt-to-GDP level stands at 38 percent, just below its all-time historic high. Ontario’s net debt has increased dramatically since 2003/04, ...

  4. Race to the Bottom: Comparing the Recent Deficits of Alberta and Ontario

    Alberta’s public finances are deteriorating rapidly, with the provincial government set to run a cumulative budget deficit of $27.6 billion over the three-year period from 2015/16 to 2017/18. Until recently, by far the largest deficits of any ...

  5. Debt Accumulation in Ontario Compared to Other Provinces

    A recent Fraser Institute study showed that Ontario’s provincial government has accumulated debt rapidly in recent years. In fact, Ontario has acquired more than half of its nearly $300 billion net debt (a measure that adjusts for financial assets) since ...

  6. Budgetary smoke and mirrors explain a significant portion of Ontario’s deficit decline

    There is very little to feel reassured about when it comes to Ontario finance minister Charles Sousa’s latest budget. Minister Sousa boasted that this year's operating deficit will be $1.8 billion smaller than planned, and ...

  7. Ontario budget: spending growth responsible for province’s fiscal mess

    Appeared in the Globe and Mail, February 25, 2016 On Thursday, Ontario will table its 2016 budget with all signs pointing to more red ink. This is par for the course, given that the province has run deficits in 10 of the past 13 years, averaging $9.7 ...

  8. Spending is the Source of Ontario’s Deficit and Debt Problem

    Ontario’s net debt is projected to reach $298 billion in 2015/16, by far the highest level in its history. This amounts to just over $21,600 in provincial government debt per Ontarian. Ontario’s net debt has increased dramatically since 2003/04, with the ...