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Ontario won’t hike taxes on middle class to balance the books, Wynne says

Budget watchdog projects that Ontario will have a deficit of $2.6 billion in 2017-18.


Ontario Premier Kathleen Wynne.  Photo: Canadian Film Centre

Ontario Premier Kathleen Wynne.
Photo: Canadian Film Centre

NIAGARA-ON-THE-LAKE, Ont. — Premier Kathleen Wynne says her government will not balance the budget in 2017-18 by raising taxes on middle-class families.

Speaking Nov. 4 in Niagara-on-the-Lake, the premier was reacting to a report this week by the Financial Accountability Office that says Ontario is not on track to balance by next year and would have to raise taxes or make cuts to get there.

The budget watchdog projects that Ontario will have a deficit of $2.6 billion in 2017-18.

But Wynne says the deficit will be eliminated by then, and that the path will be laid out in Ontario’s fall economic statement, which is expected to be released soon.

She says the government won’t do anything to harm middle-class families in order to balance the books.

The premier says it hasn’t been easy working toward balance, but it is important so that Ontario can reduce its net debt – which the FAO says will be $370 billion in 2020-21 – and its net-debt-to-GDP ratio, which is hovering around 40%.

News from © Canadian Press Enterprises Inc. 2016
2 Comments » for Ontario won’t hike taxes on middle class to balance the books, Wynne says
  1. Kent says:

    I’ll believe it when I (don’t) see it. Liberals don’t typically balance budgets anyway. They typically out-spend their means. That’s why the party colour is red. It’s a reference to their income statements and their desire to bleed us dry.

    Carbon tax on gas IS a new tax, Kate….
    Cap & Trade IS a new tax, Kate….

    LOTS of middle class people are going to be out of work as you continue to drive small business and industry out of the province. That’s harm in my books, Kate.

    Another increase to electricity rates is bad for everybody too.

    Too bad we can’t fire politicians for gross incompetence. (Although I suppose we wouldn’t have ANY if we could…)

  2. Bill Giamou says:

    In other news…..”The World is Flat Society” announces they have been lying all along.

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