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  1. Most of Ontario’s new debt due to day-to-day spending

    Appeared in the Ottawa Sun, April 18, 2018 Ontario’s provincial government is piling up debt at a historic pace. Between 2007/08 and 2018/19, Ontario’s debt has grown from $157 billion to $325 billion. The government defends this record by suggesting the ...

  2. Quebec expects operating surplus of $904 million compared to Alberta’s $8.8 billion deficit

    In spring, the thoughts of provincial governments turn to budgets, and all the provinces have now unveiled their 2018 budgets starting with New Brunswick in January and most recently Saskatchewan last week. TD Economics maintains a very ...

  3. Ontario now adding debt even faster than before

    Appeared in the Ottawa Sun, April 4, 2018 Last week, Finance Minister Charles Sousa tabled Ontario’s budget for 2018/19. The fact that the free-spending budget creates an operating deficit of nearly $7 billion this year has been widely reported, but this ...

  4. The Wynne budget—more spending, more fiscal problems, more debt

    Appeared in the Toronto Sun, March 29, 2018 Finance Minister Charles Sousa has tabled Ontario’s 2018 budget. And above all else, the pre-election document is characterized by a complete absence of fiscal discipline and dangerous willingness to saddle ...

  5. Ontario budget ignores past promises, offers no plan to enhance economic competitiveness

    Predictably, many of the headlines on Ontario’s 2018 budget, released today, focus on Premier Kathleen Wynne’s so-called “free” child care plan and other big-spending items. It is, after all, a big-spending budget. But crucially, the ...

  6. Debt-laden budgets now an Ontario rite of spring

    Appeared in the Ottawa Sun, March 28, 2018 According to an old poem, in the “spring a young man’s fancy lightly turns to thoughts of love.” In Ontario, it should also turn towards thoughts of debt, since today’s budget will add liabilities the young man ...

  7. Debt and decline—Ontario’s challenges in three snapshots

    Ontario’s upcoming provincial budget will likely include a significant increase in government spending with an eye on the spring election. Liberal Finance Minister Charles Sousa has already indicated that the pre-election budget will now ...

  8. 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 ...

  9. Government’s free-spending approach puts Ontario’s finances at risk

    Appeared in the Toronto Sun, February 7, 2018 Over the past week, stock markets around the world have taken a beating. It remains to be seen whether these losses are just a bump in the road or the start of a bear market. Regardless, the dramatic market ...

  10. 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, ...