Despite the headlines, the Ontario deficit is not truly up $3 billion over the Budget plan -- or at least not yet. What is true is that, despite slower growth in the economy than planned, government revenue is up $2 billion higher than planned in the spring Budget. Program spending is not really up. Instead the government has merely set aside more money into its reserve and contingency funds. It added $4.5 billion to these vague funds in this week's Fall Economic Statement. The government has come to rely more and more on these non-transparent funds. We don't really know how they will be spent -- and it is entirely possible that none of it will be spent. But if the money in these funds is spent at all, it will mostly go to corporations. The $700 million they added to the reserve brings it to a whopping $2.2 billion. The government justifies this with reference to economic uncertainty and the impact of the proposed federal "productivity mega deduction...
Defend Public Healthcare
Notes from Leftwords -- Doug Allan