This “fiscal snapshot” looks at the state of Ontario’s economy and its government’s fiscal challenges, and provides a short- and medium-term outlook for the province.
Ontario Fiscal Snapshot: Fall 2014
Ontario Fiscal Snapshot: Fall 2014
Provincial Economic Analysis
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- Weak economic growth and a pickup in spending left the province with a deficit of $10.5 billion in 2013–14.
- The province already plans to tightly control its spending to balance its books. However, the bulk of the planned restraint is back-end loaded, with total program spending essentially frozen between 2014–15 and 2017–18.
- Given the weak projection for economic growth, balancing the books by the target date of 2017–18 will likely require spending cuts or tax increases in addition to those already planned for in the 2014 budget.
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