TORONTO, ON: The Canadian Taxpayers Federation (CTF) today released its 2016 pre-budget submission to the Ontario government. CTF Ontario Director Christine Van Geyn appeared as a witness at finance committee at Queen’s Park to deliver the submission.
The CTF is calling on the government for a true plan to achieve a balanced budget on an expedited basis by reducing spending, and to pay down the province’s $296 billion debt as soon as possible.
“Ontario’s finances have spiraled are out of control,” said Van Geyn. “The government has no detailed plan for achieving a balanced budget, and spending continues to grow. It’s time for action, which means tightening spending.”
In 2016, Ontario will reach a milestone $300 billion in provincial debt. The province is the largest sub-national borrower in the world, and interest payments on debt are the government’s third largest expense.
The CTF’s submission calls for an expedited and detailed approach to a balanced budget, without increasing the tax burden on the public. The CTF recommends:
Reducing program spending and freezing public sector wages;
Ending all spending on corporate welfare;
An immediate moratorium on over-priced renewable power capacity;
Boosting revenue by breaking up the government monopoly of the Liquor Control Board of Ontario.
On the taxation side, the CTF’s submission also calls for:
Halting plans for the proposed 3.8 percent payroll tax, the Ontario Retirement Pension Plan;
Halting plans for a job killing and overly bureaucratic cap-and-trade carbon tax;
Reversing recent income tax hikes and ensuring all tax brackets are indexed to inflation.
The submission also makes a number of recommendations designed to improve accountability in the province, including a restoration of the Auditor General’s discretion in the review of partisan government advertising, amending the political appointment process, and amending the Police Services Act.
“Ontario was once an economic powerhouse, but with this government’s reckless spending and borrowing we have become a drain on the Canadian economy,” said Van Geyn. “By finally making the tough decisions that should have been made nearly a decade ago, the government can steer Ontario away from fiscal disaster.”
The 2016 pre-budget submission can be downloaded HERE.
