Friday, December 19th1.1°C
24295

Ontario dealing with $16B deficit

Premier Dalton McGuinty promises he will not raise taxes to eliminate a $16-billion deficit.

McGuinty says the minority Liberal government will not adopt all 362 cost-cutting recommendations economist Don Drummond's report, and will likely change some while ignoring others.

McGuinty said a flat "no" when asked directly if he would raise taxes to offset some of the ideas from Drummond that get rejected, but then he walked away from the microphone.

The premier also dismissed Drummond's criticism that politicians failed to talk about Ontario's harsh fiscal reality during last fall's election campaign, saying he wants to look forward, not back.

McGuinty says the Liberals will not make "thoughtless, reckless, across-the-board cuts," and if it comes to a choice between funding horse racing or home care, then home care will win.

The Liberals last week signalled the Ontario horse racing industry's $345-million annual share of slot machine revenues could be withdrawn by the cash-strapped government.

The Canadian Press
How does this story make you feel? (78 total votes)
Castanet MoodMeter
Angry
7.7%
Frustrated
3.8%
Amused
41.0%
Happy
15.4%
Worried
29.5%
Relieved
2.6%


Read more Business News

24153


Recent Trending




Today's Market
S&P TSX14468.26+121.51
S&P CDNX676.54+11.04
DJIA17804.8026.65
Nasdaq4765.38+16.983
S&P 5002070.65+9.42
CDN Dollar0.8618+0.0001
Gold1197.20+2.50
Oil56.50+2.39
Lumber338.60+1.70
Natural Gas3.446-0.196

 
Okanagan Companies
Pacific Safety0.12-0.01
Knighthawk0.01-0.005
QHR Technologies Inc1.25-0.03
Cantex0.03-0.005
Anavex Life Sciences0.1726+0.0026
Metalex Ventures0.05-0.005
Russel Metals25.58-0.42
Copper Mountain Mining1.55-0.02
Colorado Resources0.120.00
ReliaBrand Inc0.011-0.0089
Sunrise Resources Ltd0.05-0.005
Mission Ready Services0.215-0.01

 
23744


24380

FEATURED Property
15096466620 Lakeshore Road
5 bedrooms 7 baths
$8,975,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


My final thoughts on real estate

This will be the last column I write on real estate. Largely because at the end of the year I will be handing in my license. After 20+ years of working in land development, resort development and rea...


Reflecting on the end of the year

The importance of the end of the year and the Christmas holidays is profound. It is a time to reconnect with family and traditions that have made us who we are. But the year-end has always been a time...


Parenthood: Estates, insurance & taxes

It is now even more important to ensure your loved ones are well looked if anything should happen to you. Here are a few topics to consider helping you prepare for some of the unexpected events that c...

_



24476




Member of BC Press Council


22842