Watchdog admits Ontario Liberals can balance books next year

mentalfloss

mentalfloss

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Jun 28, 2010
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The horror!


The horror!



Watchdog admits Liberals can balance books next year

Ontario’s budget watchdog says Premier Kathleen Wynne’s Liberals will be able to balance the books next year as they promised.

But in a report to the legislature Wednesday, Financial Accountability Officer Stephen LeClair warned the red ink could soon begin gushing again due to “rising spending pressures” from provincial programs.

“Given the flexibility built into the government’s fiscal projections, the province is in a position to achieve its commitment of balancing the budget in 2017-18,” LeClair wrote in his 45-page quarterly economic and fiscal outlook.

While he forecasts a $4-billion deficit for this year and a $580 million shortfall for next year, revenue growth indicates Ontario will indeed soon be back in the black.

In the Feb. 25 budget, Finance Minister Charles Sousa forecast a $4.3 billion deficit this year and a small surplus after that.

https://www.thestar.com/news/queens...its-liberals-can-balance-books-next-year.html
 
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Jinentonix

Jinentonix

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Awwww, I think it's adorable that you actually believe this. One of the most heavily indebted sub-entities on the planet and they're going to balance the books by next year.
Can't wait to see which services will be slashed next to meet their target date.
 
IdRatherBeSkiing

IdRatherBeSkiing

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I find that difficult given the deficit only appears small because HydroOne sale is included.

I will be curious who they will have to rob to actually balance the books if they actually do make that claim.
 
mentalfloss

mentalfloss

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Yes, clearly this report is wrong and we are on track for massive deficit and people will be leaving the province en masse.
 
IdRatherBeSkiing

IdRatherBeSkiing

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mentalfloss said:
Yes, clearly this report is wrong and we are on track for massive deficit and people will be leaving the province en masse.
Click to expand...

People likely won't. Some businesses might.

I see nothing in this government indicating they are watching the expenses. But perhaps there are some money trees that are going to be bearing fruit which I have not factored into my thinking.
 
Locutus

Locutus

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Jun 18, 2007
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Lol. this is like going to a cursory meeting with credit counselling services.

the prog spastics already have more debt than anyone can reasonably be expected to retire. all that's left is to try and minimize your damage by saying you've learned your lesson and from now on won't spend more than you take in.

yeah.

what's ontariowe's debt figure again? I hear it's kind big.
 
DaSleeper

DaSleeper

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Locutus said:
Lol. this is like going to a cursory meeting with credit counselling services.

the prog spastics already have more debt than anyone can reasonably be expected to retire. all that's left is to try and minimize your damage by saying you've learned your lesson and from now on won't spend more than you take in.

yeah.

what's ontariowe's debt figure again? I hear it's kind big.
Click to expand...
Progressives don't believe in God...but have faith Liberal and Global warming predictions.....

 
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