ONTARIO GOVERNMENT TO RE-INTRODUCE MAY BUDGET TODAY

Jul 14, 2014

By Scott Walker

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It’s budget day in Ontario.

And it will sound a lot like budget day in May.

Finance Minister Charles Sousa will introduce a financial blueprint that is virtually the same as the one that triggered last month’s election.

The budget will contain the signature policies the Liberals ran on, including an Ontario Pension Plan, and $29-billion in infrastructure spending.

It will outline $130-billion in spending and a $12.5-billion deficit. That has the Conservatives warning of an expensive downgrade of Ontario’s debt rating that will result in higher interest costs to service the provincial debt. But Sousa says debt rating agencies view Ontario’s stable majority government as a good sign.

Meanwhile, the NDP is warning of a wholesale sell-off of assets such as the LCBO and hydro companies.

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