• Despite claims of a balanced budget, Ontario’s debt is set to grow by $12.6 billion over two years • Government is promising a government subsidized drug plan for people into their mid-twenties, with no costing or policy details in budget
Ontario’s So-Called Balanced Budget Is the Diet That Makes You Fat
TORONTO, ON: The Canadian Taxpayers Federation is slamming the Ontario government’s claims to have balanced the budget after nine years of deficits, because the budget will add $12.6 billion in debt by 2019.
“It’s like a diet that makes you fat - it’s a so-called balanced budget that makes the debt get bigger,” said CTF Ontario Director, Christine Van Geyn. “The truth is that this isn’t a balanced budget when the debt clock keeps ticking higher.”
The budget also confirmed that Ontario continues to spend over $11 billion per year on debt interest, making interest the province’s fourth largest expense. Interest on debt is expected to grow, exceeding $12 billion next year.
