Yesterday’s third quarter report from the Ministry of F inance indicates that their estimate of the deficit for 2016/17 fiscal year has fallen by $2.4 billion -- from $4.3 billion to $1.9 billion. This despite the announcement of another $223 million in new spending increases for 2016/17. If you recall, the government announced even more in-year spending increases in the fall for Hydro rebates and hospitals. Since the 2016/17 Budget, they have now increased program spending about $ 1.1 billion through in-year increases . That is an in-year increase in program spending of 0.9 2 %. This is quite unusual for a government that typically under-spends their budget. The new increased expenditures announced yesterday are mostly on a specific hospital based service and drugs: · Ontario Drug Benefit Program: an additional $106.0 million to address funding requirements for the Ontario Drug Benefit program. · Malignant Hematology including Ste
Notes from Leftwords -- Doug Allan