Ontario balances budget, but debt rises to $312 billion

Ontario balances budget, but debt rises to $312 billion

With the balanced 2017 Budget, Ontario is committing to several new major hospital projects across the province, adding to the 34 underway. In the last budget presented by Ontario's Progressive Conservatives before the 2003 election, the debt was about $110 billion.

The Liberals are selling this as a health budget and while it's true that the health portion has gone up by $2 billion this year, there are increases all across the board.

For decades, liberal-minded politicians in Canada have struggled to introduce universal drug coverage.

"I fear that people will read these good news things and say everything is wonderful in the world like the Liberals try to portray, but we're still in a heck of a position", he said Friday in an interview.

The budget also contains more money for health care, hospitals, and social housing.

It includes a 465 million dollar a year pharmacare program for youth.

This week's balanced budget isn't about me, or the Minister of Finance, or any politician. The budget recommits $56 billion over 10 years to public transit infrastructure, including rapid transit projects in Waterloo, Hamilton, Mississauga, Brampton, Ottawa, and Toronto. In 2017-18, Ontario will support child care for 24,000 more children up to four years old through new fee subsidy spaces and support for new licensed child care spaces in schools.

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As Sony's financials only discuss previous and current fiscal years, the reports mention nothing about its 2018 calendar year. According to their financial report , 20 million PS4 units were shipped during their fiscal year of 2017.

Ontarios budget will provide free prescription drugs for children across the province.

The sale of new carbon credits to large-scale carbon emitters will raise $1.8 billion for the province this year.

The budget will provide nearly 16 billion dollar over 10 years to help build and improve schools.

The government is also taking action to make housing more affordable for homebuyers and renters with Ontario's Fair Housing Plan.

Ontario's new Career Kick-Start Strategy will provide almost $190 million over three years to create 40,000 new work-related opportunities for students and recent graduates to give them the experience they need to help land a good job.

Transit and infrastructure also another big part of the budget.

The Star, as you'd expect, faithfully treats new government outlays as "investments" rather than more of the spending that has left the province $312 billion in hock.

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"In order to artificially balance their budget, they used $2 billion from cap and trade, over $500 million in pension assets (despite the Auditor General's advice not to), $1.5 billion in money from a federal transfer, and $1 billion from the sale of Hydro One and government properties". That may blunt the appeal of the recently announced NDP pharmacare program.

The Liberal pharmacare plan announced Thursday isn't insincere and there's no reason to think it's going to end up a fiction: if nothing else, breaking a promise like this right before an election would be political suicide.

However, the opposition leaders reacted sharply against this balanced budget.

“This debt does nothing but erode the services Ontario families depend on and place a burden on the future generations that they do not deserve, ” he said. An eight-per-cent rebate that took effect January 1 is estimated to cost $1 billion a year, and more measures announced last month to help low-income and rural residents will cost taxpayers about $833 million a year.

Not surprisingly, the budget didn't meet the standard expected by the NDP, who called Wynne out of touch and said the document does not undo the damage her government has done to affordability for people or the services they rely on.

This comes after the province's Financial Accountability Office warned that if the government continued with its plan to restrain health-care funding - without the booster shot - the level of austerity would have been the strictest in 20 years, and possibly unsustainable in the face of a growing and aging population.

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