ONTARIO ECONOMY CHALLENGED BY AGING POPULATION

Apr 02, 2014

By AM740 Staff

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A shrinking workforce combined with an aging population will pose a significant challenge for Ontario’s economy with growth lagging behind the national and U.S. average over the next 20 years. That’s the assessment based on a long-term economic report released Wednesday by Finance Minister, Charles Sousa. The report says the number of seniors in Ontario is expected to nearly double to 4.1 million by 2035. The Progressive Conservatives say the report is being used by the Liberals to justify a plan to spend billions of dollars more in the upcoming budget and to introduce payroll deductions to support a provincial pension plan.

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