Ontario government revenue is way up -- $16.6 billion higher than the forecast in the Budget just six months ago. That’s an average increase of $2.7 billion per month -- or up another 1.5% every month. Revealingly, the quarterly increases in revenue reported have grown sharply: from a modest $1.2 billion in the first quarter report, to $5.8 billion in the second quarter report, on to a whopping $9.6 billion now in the government's new 3rd quarter report . Yet the fact that the government was massively underestimating revenue was obvious right from the get go when the Budget was re-introduced in August. The slow recognition of the extra revenue reduced pressure on the PC government to improve health care funding during a hospital capacity crisis. And not one extra penny was added for hospitals, despite the crisis. It would be hardly surprising if more revenue is recognized in the final two reports for this fiscal year – the 2023 Budget and the Septembe...
Notes from Leftwords -- Doug Allan