Thursday, Oct. 27, 2020
Toronto, ON: The Canadian Taxpayers Federation has released its list of pre-budget recommendations for the Ontario government.
“It’s reasonable to help people during the COVID-19 mess, but, this government is wasting money we don’t have on things we don’t need,” said Jasmine Moulton, Ontario Director for the Canadian Taxpayers Federation. “COVID-19 has made Ontario’s already dire financial situation worse, so it’s imperative that this government cut the fat immediately.”
The Canadian Taxpayers Federation is calling on the Ontario government to do the following in its fall budget:
The Financial Accountability Office released an Economic and Budget Outlook report on Oct. 15 stating that the COVID-19 pandemic and shutdowns have caused the “largest decline in economic output on record.” The report predicts that a budget deficit of $14 billion will remain by 2025-26.
“Tax increases are antithetical to an economic recovery and imply the government has no room to cut wasteful spending,” said Moulton. “In the worst economic downturn on record, this government has given raises to already overpaid bureaucrats and taxpayer handouts to massive international corporations. This government must stop wasting money instead of raising taxes on struggling families and businesses.”
The Ontario government originally planned to release its budget in March, but provided a fiscal update instead due to COVID-19. In its March update, the government committed to presenting a full budget plan to the legislature no later than Nov. 15. No date has currently been set for when the government will release its budget.
The Canadian Taxpayers Federation’s full pre-budget submission is available at this LINK.