New Ontario Budget
March 26, 2010
Get Yourself Out of Debt
by Faungg
The new annual Ontario budget for 2010/2011 has been officially presented yesterday! According to Finance Minister of the province, Dwight Duncan, the $125 billion budget is “fair and responsible plan for getting back to balance and building a stronger Ontario”. However, the province still needs to borrow $19.7 billion to be able to fund the planned expenses.
Actually, Duncan stated that it will take eight long years to eliminate Ontario’s $21.3 billion deficit. To help eliminating this shortfall, the government led by Dalton McGuinty will freeze the salaries of more than a million public sector workers and introduce a tax reform, including Harmonized Sales Tax. No big changes regarding retirement or personal finances are mentioned in the budget.
To mention some concrete numbers, $63.5 millions are going to be spent on replacing federal child care funding and there will be a $310 millions boost for post secondary education funding. From what I have heard so, far, this budget really brought various reactions – some are very satisfied, some are not satisfied at all. What do you think? Of course, to have a complex picture, you should check out the original budget.
Ontario Deficit Lower than Expected
Toronto 2011 Budget Passed
Narrowing Budget Deficit
Toronto 2010 Budget
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