
The Ontario government says it will run a deficit of approximately 24 billion dollars this year, the largest deficit in province history. Ontario has been hit the hardest of all provinces in Canada and has seen major reductions in auto exports, in which has been heavily reliant in the past. Overall the Ontario economy is expected to shrink 3.5 % in 2009, while economics expect economic rebounds to occur in 2010.
While i'm sure this is a great opportunity for opposition members of the legislature to jump on the Ontario government, one has to acknowledge that this economic downturn has been a global one, and something all of Canada is experiencing. Ontario seem particularily troubled due to its reliance on the auto sector, which needless to say hasn't been doing so hot. Ontario appears to be an a tough transition from a manufacturing centre in Canada, to a more knowledge-based province. This is a move that will cause a lot of problems in the short term, but I believe ultimately place Ontario in the mix as a global knowledge base.
However, I'm not going to let the McGuinty government off so easy, their reckless spending in this whole ehealth scandal, along with the new proposed "HST" tax seems to leave Ontarians scratching their heads as to where the money has been going. Factor in the fact that we are in a recession and I can't help but feel there is a lack of urgency in the governing Liberals, who seem a little to careless with our money.There needs to be more accountability, we pay taxes, we deserve to know where they are going!
While i'm sure this is a great opportunity for opposition members of the legislature to jump on the Ontario government, one has to acknowledge that this economic downturn has been a global one, and something all of Canada is experiencing. Ontario seem particularily troubled due to its reliance on the auto sector, which needless to say hasn't been doing so hot. Ontario appears to be an a tough transition from a manufacturing centre in Canada, to a more knowledge-based province. This is a move that will cause a lot of problems in the short term, but I believe ultimately place Ontario in the mix as a global knowledge base.
However, I'm not going to let the McGuinty government off so easy, their reckless spending in this whole ehealth scandal, along with the new proposed "HST" tax seems to leave Ontarians scratching their heads as to where the money has been going. Factor in the fact that we are in a recession and I can't help but feel there is a lack of urgency in the governing Liberals, who seem a little to careless with our money.There needs to be more accountability, we pay taxes, we deserve to know where they are going!
