The Canadian Taxpayers Federation (CTF) called out Ontario Premier Doug Ford for increasing government spending by 8.3% this spring compared to the first quarter of the last fiscal year. .“The FAO (Financial Accountability Office) report shows just how little the Ford government is prioritizing fiscal responsibility,” said CTF Ontario Director Jay Goldberg in a Thursday press release. .“Deficit spending is fueling inflation and the cost of living.”.The report said spending is up on every major budget line compared to 2021. .It went on to say government spending on debt interest ballooned; debt interest costs are up by 16.8%. .“The end result of nearly two decades of deficits is that Ontario is the most indebted subnational unit in the entire world,” said Goldberg..“With interest rates still rising, there’s never been a more important time to stop digging and finally balance the books.”.The Ontario government accelerated spending in its 2021 budget, with an emphasis on building roads, expanding hospitals, and tax breaks for some workers and seniors..READ MORE: Ontario Conservatives’ pre-election budget sees big spending and continued deficits.“Rebuilding Ontario’s economy today is the right thing to do in a fiscally responsible way, which we demonstrated in this budget,” said Ontario Finance Minister Peter Bethlenfalvy. .The budget showed Ontario was expected to have a $19.9 billion deficit, up from $13.5 billion in 2020. Ontario will not have a balanced budget until 2027-2028. .The Ontario government will be using up more taxpayer money than the previous administration, according to an August 4 study released by the Fraser Institute. .READ MORE: Ontario government to outspend predecessor and increase provincial debt.“When in opposition, the PCs frequently criticized the Liberal government’s spending, but now the Ford government plans to actually spend more than the Wynne government ever did,” said Fraser Institute senior fellow and study co-author Ben Eisen. .The study said Ford’s first term in office saw him spend more on a per-person, inflation-adjusted basis than former Ontario premier Kathleen Wynne.
The Canadian Taxpayers Federation (CTF) called out Ontario Premier Doug Ford for increasing government spending by 8.3% this spring compared to the first quarter of the last fiscal year. .“The FAO (Financial Accountability Office) report shows just how little the Ford government is prioritizing fiscal responsibility,” said CTF Ontario Director Jay Goldberg in a Thursday press release. .“Deficit spending is fueling inflation and the cost of living.”.The report said spending is up on every major budget line compared to 2021. .It went on to say government spending on debt interest ballooned; debt interest costs are up by 16.8%. .“The end result of nearly two decades of deficits is that Ontario is the most indebted subnational unit in the entire world,” said Goldberg..“With interest rates still rising, there’s never been a more important time to stop digging and finally balance the books.”.The Ontario government accelerated spending in its 2021 budget, with an emphasis on building roads, expanding hospitals, and tax breaks for some workers and seniors..READ MORE: Ontario Conservatives’ pre-election budget sees big spending and continued deficits.“Rebuilding Ontario’s economy today is the right thing to do in a fiscally responsible way, which we demonstrated in this budget,” said Ontario Finance Minister Peter Bethlenfalvy. .The budget showed Ontario was expected to have a $19.9 billion deficit, up from $13.5 billion in 2020. Ontario will not have a balanced budget until 2027-2028. .The Ontario government will be using up more taxpayer money than the previous administration, according to an August 4 study released by the Fraser Institute. .READ MORE: Ontario government to outspend predecessor and increase provincial debt.“When in opposition, the PCs frequently criticized the Liberal government’s spending, but now the Ford government plans to actually spend more than the Wynne government ever did,” said Fraser Institute senior fellow and study co-author Ben Eisen. .The study said Ford’s first term in office saw him spend more on a per-person, inflation-adjusted basis than former Ontario premier Kathleen Wynne.
