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1. Ford’s tax pledge will help Ontario’s economy recovery

   No matter how you measure it, Ontario’s budget deficit is on track to be the largest in provincial history. And while this year’s massive deficit is primarily due to forces outside the government’s control—mainly the COVID 19 recession ...

2. Premier Ford’s choice is clear—more government debt or real reform

   Appeared in the Ottawa Sun, August 15, 2020 On Wednesday, Ontario Finance Minister Rod Phillips released the province’s first quarter finances for the 2020/2021 fiscal year. The update is sobering to anybody concerned about Ontario’s well-being. The ...

3. Ontario budget deficit will reach historic levels

   The Ford government on Wednesday released Ontario’s first quarter finances. The headline statistic was the updated estimate of Ontario’s operating budget deficit this year, now pegged at $38.5 billion, up from approximately $20 billion ...

4. Ontarians—today and in the future—will pay the price for Ottawa’s debt

   At the end of fiscal year 2019, Ontario’s provincial government debt stood at $355 billion. For context, that’s more than $24,000 per Ontarian. With the COVID recession, this debt will grow further. Scotiabank Economics estimates a $36 ...

5. Three recessions tell Ontario’s debt story

   It’s widely known that Ontario carries a significant debt burden. At the end of the 2019 fiscal year, Ontario’s debt stood at approximately $355 billion. RBC Economics forecasts that by the end of this year Ontario’s debt-to-GDP ratio (a ...

6. Taxpayers likely to feel city hall’s COVID cash crunch

   Municipalities in Ontario are reeling from the pandemic. Some have announced large drops in revenues. Toronto, for example, projects a $1.5 billion loss in revenues in 2020 if there’s a three-month lockdown followed by a six-month ...

7. 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 ...

8. Newfoundland and Labrador faces fiscal crisis, other provinces should take note

   Among the many challenges emerging from the COVID-19 crisis, a worrying story has emerged from Newfoundland and Labrador and other provincial governments across the country should take notice. On March 20, Newfoundland Premier Dwight Ball ...

9. Ontario’s mini-budget shows provincial deficit will increase

   This week, the Ontario government published a Fiscal and Economic Update, which will essentially serve as a “mini-budget,” laying out the government’s revenue projections and spending plans for this year. The update shows the province’s ...

10. Ontarians shoulder provincial government debt—and big chunk of federal debt

    Appeared in the Ottawa Sun, January 23, 2020 It’s widely known that the Ford government is fighting a big budget deficit and mounting debt. But it’s not just provincial government decisions that affect how much new government debt falls on Ontarians. The ...