ontario fiscal update

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Ford budget could represent turning point in Ontario fiscal history

Within two fiscal years of Chretien's 1995 budget, federal finances had moved from large deficits to surpluses.

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Ontario’s mini-budget shows provincial deficit will increase

Provincial government debt-service costs are set to reach $13.2 billion this year.

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Ford budget falls short of what Ontario needs

Ontario's debt will hit a projected $391.6 billion by 2023/24.

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Mini-budget an early test of Ford government resolve

If Queen’s Park reduces spending by $5 billion, it could eliminate two-thirds of the provincial deficit.

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Ontario’s provincial debt nearly doubled from $157 billion in 2007/08 to $301 billion in 2016/17.

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On Thursday, Finance Minister Charles Sousa will provide an update for Ontarians on the state of provincial government finances.

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Since 1990, Ontario has accumulated nearly $265 billion in net public debt. Put another way, nearly 90 per cent of Ontario’s net public debt has been accumulated over the last 25 years.  

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The Ontario government's strategy to eliminate the projected $8.5 billion deficit has largely hinged on hoping revenues will grow robustly and eventually catch up to spending increases. This is a risky strategy.

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There was an aura of complacency in Queen’s Park as the Ontario government released its update on the state of provincial finances.