The Ontario Provincial budget (2015) appeared last week to little fanfare, even though it looks to me like an austerity budget ( the media has dubbed it a Tory budget) and a long-term austerity plan, trying to balance the ever-mercurial Ontario Budget (i.e. Ontario’s economy has been up and down like a dory in 20-foot swells).
If you use public transit, as you should (but I don’t), there is money for new programs in Toronto. However, there is not much for other areas. I suppose they could have cut Ottawa’s Light Rail money. Still, there doesn’t seem to be money for the inevitable “expansion” of the light rail program here (but then again, is Ottawa actually in Ontario? Lots of folks in Toronto don’t seem to think so).
The major selling point of this budget is the attempt to balance Ontario's Provincial Spending:
The deficit for 2014 is now projected to be $10.9 billion a $1.6 billion improvement compared to the 2014 Budget forecast. Together with prudent fiscal management and actions to find smarter and better ways to deliver programs and vital public services that people rely on, Ontario remains committed to eliminating the deficit by 2017-8.
That is a very aggressive goal. They will try to do it with the help of their major allies, the Provincial Public Service and Teachers' Unions. However, they may end up with some problems, given the strikes already being called by the teachers. There could be unsettled labor issues for a while. This assumes there will be no pay increases until the budget is effectively balanced.
Many other fixes do not cost much on Social Spending areas. However, not many are provided, given the simple plans the government has for its future. More assistance for post-secondary education grants is necessary. This can slow down the creation of a Generation of Debtors, with the government as the major lender.
Other Budgets Federal and Ontario Provincial
- Ontario Budget 2007 Highlights? I certainly have written about many different budgets, this is for the Ontario Provincial 2007 budget.
- Budget Day 2009 is Here, what to do in a financial poop storm? The actual budget discussions for 2009 can be found here.
- Ontario Budget 2015 M’eh… The Ontario Budget 2015 was relatively meagre and simple, however, it didn’t really appease any of the pundits either.
- Budget 2015 What’s In It For Me ? The federal budget 2015 Federal had some things for everyone, but not a great deal for anyone specifically. Typical budget. Except the TFSA limit was moved to $10,000 !
