FAO: ONTARIO NOT LIKELY TO BALANCE BUDGET BY 2030 DESPITE POST-PANDEMIC GROWTH

Jun 10, 2021

By Bob Komsic

Share on
While Ontario’s economy will bounce back over the next two years, the government’s unlikely to reach its goal of balancing the books by the start of the next decade.
That from the Financial Accountability Office in just released report on the province’s spring economic and budget outlook.
If the COVID-19 vaccination plan proceeds as planned and the pandemic eases, the FAO projects real Gross Domestic Product will rise by 5.8% this year, and 4% in 2022.
The report also found under current policies, the government won’t return to balance by 2029-30 as proposed in the budget.
The FAO says the budget did not spell out how the province would achieve the needed $17.8-billion in permanent savings to reach the goal.
Opposition Leader Andrea Horwath feels this shows what the premier’s planning.
This is a warning siren:  more big cuts and bad choices are on the way.
Everyday families will pay the price for Ford’s slash-and-burn agenda.
You can’t cut $17.8-billion without hurting them deeply,” Horwath said in a statement.
Join Our Fan Club
Coverage Area
Downtown Toronto
96.7FM
Toronto HD
96.3 HD-2
Kingston to Windsor, Parry Sound to Pittsburgh
AM740
ZoomerRadio Logo

Recently Played: