ONTARIO TO DELIVER ECONOMIC UPDATE

Nov 07, 2013

By Scott Walker

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Ontario Finance Minister Charles Sousa will deliver the Liberal government’s fall economic update this afternoon. And it’s said to include some changes in policy.

The government is expected to announce it is abandoning the austerity programs of Premier Dalton McGuinty. Instead, Kathleen Wynne’s government plans to embrace stimulus spending to revive the struggling economy. The Liberals will inject money into the economy through infrastructure spending.

But Wynne says that doesn’t mean the province is not committed to eliminating its deficit of almost twelve billion dollars. She says her government recognizing that it has to control spending while recognizing that slashing programs doesn’t work.

The economic update is also expected to announce changes that would lower taxes for a million low-and-moderate income investors who hold stocks that pay dividends. The change would also benefit 300,000 seniors.

And changes are expected for the Drive Clean Program, which is supposed to be revenue neutral but is actually making money for the province.

Charles Sousa will deliver the update early this afternoon.

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