Ontario Liberals curb more spending, reduce deficit


mentalfloss
+1
#1
Liberals to do more to curb spending, Sousa says

Armed with a majority, the Liberals will do more to control spending and balance the budget now that they no longer have to deal with the non-stop drama of a hung parliament, says Finance Minister Charles Sousa.

His comments came after delivering a prebudget speech at the Empire Club at the Royal York Hotel. On Monday, Mr. Sousa is reintroducing the budget, whose failure to pass the previous legislature in April triggered last month’s election. The ambitious document includes $29-billion for transit and transportation, billions in grants for business, and the groundwork for a new provincial pension plan.

“Having a majority mandate now gives us a little bit more initiative to implement things and expedite them more quickly,” he said Thursday. “That stability in the government plays not only to [credit] rating agencies but to investors as well.”

The big-spending budget caused consternation for bond raters Moody’s, who changed their outlook on Ontario to “negative” last week, contending the province has not shown enough progress on its plan to erase the $12.5-billion deficit in three years. But Mr. Sousa sounded nonplussed.

“I know the agencies … have expressed concern about our determination to meet those targets,” he said in his address. “I accept that. It’s their job. And it’s my job and that of our government to deliver on our plan.”

He promised to sell off real estate and other assets, as well as make structural reforms to programs to save money. The Liberals are also hiking income taxes on the rich to bring in more cash. Such things will be easier now that the government controls the legislature.

The NDP, on whose support the Liberals depended to govern in the last parliament, is generally against selling public assets. New Democrat MPP Catherine Fife argued it would be more valuable in the long run for the government to hold onto real estate and rent it: “It’s hugely concerning – it’s a one-time win.”

The Progressive Conservatives, meanwhile, accused the Liberals of whistling past the fiscal graveyard. “They’ve had plenty of opportunity to change their ways and instead we see them increasing taxes and increasing the deficit at the same time,” finance critic Vic Fedeli said.

But the confidence of a parliamentary majority seemed to animate Mr. Sousa, who took a breezy tone in his speech. Outlining the government’s plan to build more public transit, he joked about his own commute from his suburban home to the legislature.

“I’ve suffered from something I like to call ‘acute traffic congestion.’ It hurts. It’s an unpleasant condition that keeps you away from your family,” he said.

While laying out optimistic economic growth forecasts for Ontario, Mr. Sousa singled out a group of civil servants from the Finance Department in the audience. He exhorted the bureaucrats – known for their dire warnings about the state of the province’s books – to cheer up.

“Come on, guys,” he said. “Take those happy pills.”

Follow Adrian Morrow on Twitter: @adrianmorrow

Liberals to do more to curb spending, Sousa says - The Globe and Mail
 
Walter
+1
#2
And everyone believes them.
 
mentalfloss
#3
And you believed Hudak.
 
Walter
#4
Quote: Originally Posted by mentalflossView Post

And you believed Hudak.

Libs have a track record of always telling the truth.
 
captain morgan
Bloc Québécois
+2
#5  Top Rated Post
Quote: Originally Posted by mentalflossView Post

Liberals to do more to curb spending, Sousa says

Funny, they didn't mention what they'd be curbing spending on


Quote: Originally Posted by mentalflossView Post

The Liberals are also hiking income taxes on the rich to bring in more cash. Such things will be easier now that the government controls the legislature.

The term that you should familiarize yourself with is 'flight of capital'. You'll be hearing that a lot in the next few years

Quote: Originally Posted by mentalflossView Post

The NDP, on whose support the Liberals depended to govern in the last parliament, is generally against selling public assets. New Democrat MPP Catherine Fife argued it would be more valuable in the long run for the government to hold onto real estate and rent it: “It’s hugely concerning – it’s a one-time win.”

Bingo.

The gvt will be buying that R/E back at a premium in a few years

Quote: Originally Posted by mentalflossView Post

The Progressive Conservatives, meanwhile, accused the Liberals of whistling past the fiscal graveyard. “They’ve had plenty of opportunity to change their ways and instead we see them increasing taxes and increasing the deficit at the same time,” finance critic Vic Fedeli said.

Remember these words Flossy... They will have some strong meaning in the not-so-distant-future

Quote: Originally Posted by mentalflossView Post

“Come on, guys,” he said. “Take those happy pills.”

They go really well with the purple Kool-Aid the gvt is drinking
Last edited by captain morgan; 2 weeks ago at 08:31 AM..
 
taxslave
No Party Affiliation
#6
Governments selling realestate is always a good thing. It is now revenue generating forever. Much better than buying prime land to make more parks which will cost money forever.
 
captain morgan
Bloc Québécois
#7
Quote: Originally Posted by taxslaveView Post

Governments selling realestate is always a good thing. It is now revenue generating forever. Much better than buying prime land to make more parks which will cost money forever.


That all depends on what land is being sold... There is a good chance that the gvt will be the ones leasing back that space from the new owners
 
taxslave
No Party Affiliation
#8
Quote: Originally Posted by captain morganView Post

That all depends on what land is being sold... There is a good chance that the gvt will be the ones leasing back that space from the new owners

As in political nepitism?

When I think of government selling land I see farmland being put back intoproduction, vacant lots being turned into housing and excess land around ports and airports being turned into job producing industry, not building yet more unneeded office space for redundant government employees.
 
IdRatherBeSkiing
#9
Wasn't somebody complaining about Harris selling stuff to make the budger 'appear' balanced? Selling off here is no different. It will hide the true mess the province is in for a couple of years.

How rich do the Lieberals consider rich? Anybody making over minimum wage?
 
captain morgan
Bloc Québécois
#10
Quote: Originally Posted by taxslaveView Post

As in political nepitism?

No doubt... A Liberal tradition

Quote: Originally Posted by taxslaveView Post

When I think of government selling land I see farmland being put back intoproduction, vacant lots being turned into housing and excess land around ports and airports being turned into job producing industry, not building yet more unneeded office space for redundant government employees.

More often than not, in my opinion, you will find more land that is being used in some form than land that is vacant... Parkland-style property is unlikely to be sold for development.... As far as open land that was earmarked for development, that ultimately was targeted for sale at some point anyways

Quote: Originally Posted by IdRatherBeSkiingView Post

Wasn't somebody complaining about Harris selling stuff to make the budger 'appear' balanced? Selling off here is no different. It will hide the true mess the province is in for a couple of years.

How rich do the Lieberals consider rich? Anybody making over minimum wage?

Funny how that works, eh?

The threshold for defining 'the rich' creeps down the scale every year and deeper into the middle class.
 
lone wolf
Free Thinker
#11
Quote: Originally Posted by WalterView Post

Libs have a track record of always telling the truth.

They all have a habit of distorting it ... and the gullible swallow every word. I voted Harris - ONCE.

Unless Hydro is a sneaky tax, get rid of the internal bureaucracy of cost-inflating "companies" and straighten out the mess in billing
 
Locutus
#12
lol @ present tense OP and dreamlike future tense actual article.
 
petros
+1
#13
Quote: Originally Posted by captain morganView Post

Funny, they didn't mention what they'd be curbing spending on.

Quote:

His comments came after delivering a prebudget speech at the Empire Club at the Royal York Hotel

Definetly not cutting down facility rentals. Even in SK's winter Gov here will will make announcements from the front steps of legislature FOR FREE with oodles of free parking for satellite trucks.

Did you people vote for politicians or royalty?
 
mentalfloss
#14
Conners gonna con.

Ontario expects fairness, not sad rhetoric from Ottawa

Recently on this page Federal Finance Minister Joe Oliver made misleading accusations about the state of federal-provincial relations in Canada, but he was right about one thing: the numbers speak for themselves. The current system of federal-provincial fiscal arrangements is working against, not for, the people of Ontario. Our share of Federal fiscal transfers falls short by $1.2 billion this year alone.

The Federal government is indeed balancing its books on the backs of the hardworking people of this province. Since 2006, the federal government has taken more than 110 adverse unilateral actions against people and businesses across Ontario. In addition, each year, the share of the federal revenue raised in Ontario is significantly higher than the share of federal spending in Ontario. Our province contributes $11 billion more to the federal government than we receive in return – this represents about $850 per person in lost services. The Federal government must stop pickpocketing the people of this Province, and instead help invest in and protect the schools, hospitals, and public transit that Ontarians expect and deserve.

In Canada, there is no more staunch supporter of our nation’s federalism than Ontario. But this support cannot be taken for granted. Ontario’s sustained economic growth needs a Federal government that joins us at the table and does more to help, not more to hurt. We need a federal government that is true to its word. Mr. Oliver notes that Equalization is a formula driven program – and that he doesn’t make the decisions on how it works. But the truth of the matter is that when Ontario recently became eligible for billions in additional equalization funding, it was his government that changed the formula to disadvantage Ontario. Further to these actions, in 2014–15 our province will experience a year-over-year decline of $641 million in major transfers. Over the last four years, the federal government paid a total of $2.2 billion to other provinces to specifically prevent their transfers from falling. This year, when Ontario was the only province facing a decline and was eligible for the program, the federal government ended the practice of transfer protection payments. To add insult to injury, they have also unilaterally removed an estimated $8 billion in support for health care in Ontario by 2023-24, placing a greater burden on the Province’s ability to meet our health care needs.

Mr. Oliver knows well that his government has created the illusion of a fiscally sustainable federal government by pulling the rug out from under the Provinces. Deep and damaging cuts by the federal government have put all of our shared progress at risk and their actions run contrary to their own rhetoric about the need to balance budgets.

Ontario expects fairness, not sad rhetoric from Ottawa | Financial Post
 
petros
#15
Quote:

Our share of Federal fiscal transfers falls short by $1.2 billion this year alone.

That's only $2 a head right?
 
mentalfloss
#16
You would have to look at revenues from the investment into the ring of fire.
 
captain morgan
Bloc Québécois
+1
#17
Quote: Originally Posted by mentalflossView Post

You would have to look at revenues from the investment into the ring of fire.


Those revenues will go a very long way towards the direct, no-questions-asked, cash oil production subsidies that AB and Sask producers are entitled to.

Maybe time to start a new Jr company and organize massive management fees again.

Hey Petros, you up for a new start-up... We'd probably have to have a Director's meeting Belize for a month or so to organize properly
 
Locutus
#18
Premier asked to 'do something' about hydro rates
 
IdRatherBeSkiing
#19
Quote: Originally Posted by LocutusView Post

Premier asked to 'do something' about hydro rates

LOL Maybe she should schedule a speech.
 
petros
+1
#20
Quote: Originally Posted by captain morganView Post

Those revenues will go a very long way towards the direct, no-questions-asked, cash oil production subsidies that AB and Sask producers are entitled to.

Maybe time to start a new Jr company and organize massive management fees again.

Hey Petros, you up for a new start-up... We'd probably have to have a Director's meeting Belize for a month or so to organize properly

OooO I like Belize. Great place to spend free money that isn't free.

Quote: Originally Posted by LocutusView Post

Premier asked to 'do something' about hydro rates

It's only $2 a head.
 
captain morgan
Bloc Québécois
#21
Quote: Originally Posted by petrosView Post

OooO I like Belize. Great place to spend free money that isn't free.


It's free for us and that's all that really matters
 
petros
#22
Gotta love getting money for doing absolutely nothing. You don't even have to do anything first or pay taxes.
 
Locutus
#23
it's the same mindset as the cumstache hipsters that think $500,000 on fake rocks is a wonderful idea:





Rob Ford rails against $500,000 beach rocks

mo' money

Ontario’s municipalities will receive more than $8 billion over 10 years, as part of a renewed gas tax fund, the federal government announced on Friday.


Federal Finance Minister Joe Oliver said the government doubled the number of eligible investment categories so that municipalities can apply their gas tax money to an array of projects.


Toronto Mayor Rob Ford joined Oliver to mark the agreement’s 10-year extension, and was all smiles since much of that money will go to Toronto.


“As a result of this new 10-year agreement, the federal government will flow an estimated $8.12 billion directly to municipalities in Ontario,” Oliver said.


Toronto to get much of province's $8-billion gas tax fund | 680News
 
Count_Lothian
+1
#24
Quote: Originally Posted by LocutusView Post

it's the same mindset as the cumstache hipsters that think $500,000 on fake rocks is a wonderful idea:





Rob Ford rails against $500,000 beach rocks

mo' money

Ontario’s municipalities will receive more than $8 billion over 10 years, as part of a renewed gas tax fund, the federal government announced on Friday.


Federal Finance Minister Joe Oliver said the government doubled the number of eligible investment categories so that municipalities can apply their gas tax money to an array of projects.


Toronto Mayor Rob Ford joined Oliver to mark the agreement’s 10-year extension, and was all smiles since much of that money will go to Toronto.


“As a result of this new 10-year agreement, the federal government will flow an estimated $8.12 billion directly to municipalities in Ontario,” Oliver said.


Toronto to get much of province's $8-billion gas tax fund | 680News


He must have been stoned out his gourd when his neighbor somehow got the contract.

Sugar Beach umbrellas supplied by neighbour of Ford family business - Toronto - CBC News
 
mentalfloss
#25
What a maroon lol
 
Walter
#26
Quote: Originally Posted by Count_LothianView Post

He must have been stoned out his gourd when his neighbor somehow got the contract.

Sugar Beach umbrellas supplied by neighbour of Ford family business - Toronto - CBC News

Ford voted against this spending.
 
Count_Lothian
#27
" Walter!!!!!!! DUCK!!!!!!!! "

Quote: Originally Posted by WalterView Post

Ford voted against this spending.

Yeah we know....

Woooooosh!!
 
mentalfloss
#28
 
IdRatherBeSkiing
#29
Rocks and umbrellas? Seriously? And no money to fix potholes and almost unpassable roads. Gotta love the lefty priorities.
Unfortunatly, the mayor has only 1 vote and no veto powers.
 
mentalfloss
#30
Except it is a private owned business that made the decision to buy the umbrellas and another councillor (not Ford) who found the gravy lol

Typical revisionist cons.
 
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