TORONTO—Queen’s Park’s timeline for reducing the province’s historically high debt burden relies on optimistic and questionable assumptions and lacks a detailed, credible plan to achieve it, finds a new study released today by the Fraser Institute, an independent, non-partisan Canadian public policy think-tank.
The Ontario government has acknowledged the province’s current debt-to-GDP ratio—a measure used to evaluate a jurisdiction’s debt burden—is too high at 37 per cent of the economy and has pledged to lower it back to the pre-recession level of 27 per cent by 2029/30.
But the government has offered no specifics on how it will achieve that goal.
