Toronto, ON: The Canadian Taxpayers Federation is calling on Ontario Premier Doug Ford to be more proactive in tackling the province’s budget deficit after Finance Minister Peter Bethlenfalvy tabled the government’s fall economic update.
“While it is good to see the government is projecting smaller deficits in the coming years, Ontario is still adding almost two billion dollars a month to the provincial debt,” said Jay Goldberg, the CTF’s Interim Ontario Director. “The government claims it wants to balance the books without spending cuts or tax increases, but the economic update fails to lay out a plan for how to get there. The government can and should find savings to balance the budget in the near term.”
The Ford government’s fall economic update projected a deficit of $21.5 billion for the current fiscal year.
The government has failed to present any plan balance the budget.
“Whether it is corporate welfare, political party handouts, or bureaucrat pay raises, there are many places for the government to trim spending,” said Goldberg. “Categorically ruling out reducing spending is reckless and irresponsible. The government should be implementing targeted spending cuts to ensure we leave less debt for future generations.
“It’s time for a serious plan to balance the budget.”