Moody’s just downgraded Ontario’s financial outlook to ‘negative’

Published on April 23, 2018

My concern over the financial condition of Ontario was recently confirmed when Ontario’s credit rating was downgraded by Moody’s, one of the best respected global financial rating agencies in the world. Unfortunately, this may only be the beginning of a worsening financial situation for Ontario. It is not a question of if interests rise, it is only a question of when.  

As the cost of financing Ontario’s ballooning debt increases, we will have less money to pay for the services that Ontarians rely on. The Liberal budget will only worsen our ability to fund our future health care and educational needs. The Liberal government of Ontario have more than doubled the province’s debt and they are well on their way to tripling our provincial debt to unprecedented levels.  

We are currently paying over $1 billion dollars a month to finance Ontario’s $312 billion dollar debt. Under Kathleen Wynne’s Liberal government, the situation will only worsen. They have no intention of balancing Ontario’s budgets for years to come. They will continue to spend your money while Ontario’s next generations will be saddled with the cost of the government’s mismanagement and wasteful spending. This election is about the responsible fiscal management of Ontario’s future.

We know that confronting the financial realities of our present situation will require leadership, to ignore it will leave a lasting legacy of debt to our the next generation of Ontarians.

The Liberal government plans to run six consecutive multibillion-dollar deficits. Postmedia Network

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