ONTARIO ADDING $9 BILLION IN DEBT NEXT YEAR

Mar 30, 2017

By Christine Ross

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New numbers released this morning show Ontario’s debt is expected to grow an extra $9 billion dollars next year despite the government’s promise to balance its budget this spring. The study by the Fraser Institute found the Liberals plan to add a total of 18 billion to the debt over the next two years. And the Canadian public policy think tank suggests there’s no end in sight to the borrowing with word the province’s own financial accountability officer estimates Ontario’s debt will soar to $370 billion in three years. Although the province will stop adding new debt from spending on day to day operations, on things like salaries and programs, it will continue adding new debt from spending on long term projects including highways and infrastructure.

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