In this year’s budget, the Wynne government forecasts a nearly 5 per cent increase in program spending.
The province’s top earners face a tax rate of 53.5 per cent on any additional earnings.
The current federal government raised the top federal personal income tax rate to 33 per cent.
Ontario’s top combined marginal personal income tax rate is 53.5 per cent.
Business investment in Ontario is $50.9 billion this year, down from $53.8 billion before the recession.
Corporate income taxes are largely paid by ordinary workers.
Ontario increased its top marginal personal income tax rate by about 17 per cent.