Ontario Deficit Will Jump To $12B This YearPublished on May 05, 2018
Ontario’s financial accountability office is warning that the province’s deficit will triple to $12 billion this year due to the Liberal government’s spending promises in its most recent budget and without new money to pay for them.
The Financial Accountability Office (FAO) says promised services such as free child care for preschoolers, more pharmacare and dental care will account for an extra $4 billion alone.
J. David Wake, the province’s temporary financial accountability officer, says “severe spending restraint” could lead to balanced books by 2025. (SUPPLIED PHOTO)