http://business.financialpost.com/n...illion-in-four-years-financial-watchdog-warns
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Some excerpts:
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Some excerpts:
- Ontario’s already massive debtload is expected to ballon by another $50 billion over the next four years.
- Ontario’s net debt to grow from about $300 billion right now to $350 billion by the 2020/21 fiscal year.
- Ontario’s net debt was the highest among Canadian provinces at $296.1 billion on March 31, 2016.
- Ontario’s net debt per person was $20,806 in 2014-15
- net debt per person was $8,387 in British Columbia.
- a one percentage point increase (e.g. from 3.6 to 4.6 per cent) in interest rates would increase interest payments by about $350 million in 2016-17
- LeClair “confirmed what we’ve been saying for months – the government is using one-time money from asset sales, contingency funds and tax increases to artificially balance the budget in an election year.
- Kathleen Wynne’s decision to sell Hydro One doesn’t pay for infrastructure, but will actually increase the debt (NDP finance critic Catherine Fife)
- For every dollar of provincial revenue, LeClair found Ontario owes $2.40, compared to $1.93 in Quebec and 84 cents in British Columbia. (Interesting, Quebec is BETTER than Ontario!!!).
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