Monday, March 17, 2014

Ontario Tories Release Documents Showing the Liberals Will Miss Deficit Targets

There's still no sign of a Liberal budget date. I've heard rumours that this budgets numbers wouldn't be good and that the Liberals plan to balance the budget in 2017-2018 would be pretty much impossible to achieve.

Now according to this Globe article, the Tories have released documents stating that:


The Ontario government is set to miss its deficit reduction targets for the next two years and must either dramatically cut spending or hike revenue to make up the shortfall.
That’s the message in a series of internal government documents prepared early last year. The papers, primarily briefing notes written by senior bureaucrats for Premier Kathleen Wynne, were obtained by a legislative committee and released by the Progressive Conservative opposition Monday.
 I can't say I'm very surprised. To meet those budget targets, the Liberals would have had to take some draconian measures. However news like the OPP getting a 8.5% raise on January 1st this year after two years of freezes and various other expenditures means that there's no way those targets can be met (amusingly, the OPP raise will apply to the last three months of the 2013-2014 budget). 
I'm assuming that the Liberals will take their time releasing the 2014-2015 budget but it will be interesting.

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