Friday, September 20, 2019

It's Just An Economy

One thing to point out, Ford had years of Liberal financial messes to clear up.

That's not excusing him, only something to consider:

Then the PCs took power and shocked the public with the news that the deficit for 2018-19 would be $15 billion, far more than the $6.7 billion the free-spending Liberals had promised. That led to allegations that the PCs had inflated the number for political purposes.

Now, we find out that last year’s provincial deficit was actually $7.4 billion. Not an inconsiderable sum, but $4.3 billion less than the PCs had estimated back in the spring. What’s going on?

For opposition politicians, who had always claimed that the PC number was full of hot air, it was superficial vindication. The actual numbers tell a different story and it’s a good one for Ontarians who are serious about bringing the province’s revenues and spending back into balance. ...

When it comes to eliminating deficits, there are two schools of thought. The PCs chose the supposedly easy path of cutting the deficit gradually over five years. That hasn’t done much to lessen complaints about austerity and cuts, even though provincial spending is at a record high. The alternative approach is to move quickly and get it over with. The goal of the exercise, it’s easy to forget, is to create budget sustainability so that revenues and expenses are in balance and Ontarians don’t need to agonize over cuts in the future. That can’t come soon enough. If the PCs surprising deficit reduction holds up this year, Ontario is well on its way to balance.



I'll believe it when I see it:

Conservative Leader Andrew Scheer said Wednesday he will start to pay for his promised $9 billion in tax cuts and program spending by finding a way to cut $1.5 billion from annual subsidies to Canadian corporations.

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