In a recent long-term report on the economy , the Ontario government recognized that own-source Ontario government revenue as a percentage of gross domestic product (GDP) has declined over the last fifteen years. The decline is equal to 2 percentage points of the province's GDP. That means the Ontario government is currently losing $14 billion annually. With that revenue, the deficit (which was $11.3 billion last year) would be gone and we would have cash to spare. But the government also forecasts that own-source revenue as a percentage of GDP will continue to decline over the next twenty years as well. The plan is to cut Ontario government revenue by another 1.2% of GDP. In today's economy that would add $8.6 billion to the deficit, increasing the deficit by about 70%. In total, over 35 years, the plan is to cut government revenue by 3.2% of GDP. That is equal to an annual cut in government revenue of $22.6 billion in today's ec
Notes from Leftwords -- Doug Allan