C.D. Howe commentary says Ontario should move more quickly on deficit fighting but Ottawa should delay its plan to balance the books. ...
Category: Taxes and Benefits
S & P affirms Ontario credit rating, but with negative outlook
Ontario maintains AA- rating for long-term bonds, and A-1+ on short-term debt and commercial paper, but S&P expresses concern that the government may not be able to balance the books as planned. ...
C.D. Howe Institute says Ontario business investment dismal
C.D. Howe report urges more private investment, and notes Ontario and Quebec have weak performances in investing in workers. ...
Rob Ford’s budget criticism taken with grain of salt
Finance Minister Charles Sousa is not particularly worried about criticism from the Toronto mayor, noting a big chunk of provincial spending goes to the GTHA. ...
Sousa brings insurance, towing bill as rates climb slightly
Finance Minister Charles Sousa says that, despite a slight climb in auto insurance rates, Liberals are still committed to 15-per-cent cuts but not until 2015. ...
Ontario keeps its credit rating – with a caveat
DBRS maintains AA (low) with "stable" trend but, regarding the deficit, agency has "doubts that the government will have the fortitude to make the difficult decisions required to adhere to its original targets." ...
Budget2: List of changes in new budget from May 1 fiscal plan
An update on the original budget, Bill 194, which was tabled at the beginning of May. ...
Budget2: Jobs and prosperity fund also includes subsidy program review
Budget provides $2.5-billion jobs and prosperity fund but also promises review of all subsidy programs, including aid to businesses. ...
Budget2: Liberals’ Ontario retirement pension plan bill coming this fall
Legislation for new provincial pension plan will be phased in starting 2017 and is expected to begin with the largest employers, according to retabled budget. ...
Seen: Strike begins at Bombardier transit car plant in Thunder Bay
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Budget won’t include cap on hospital parking, Liberal election promises nothwithstanding
Health and Long-Term Care Minister Eric Hoskins says government first needs to consult stakeholders, while hospitals continue to levy charges to help balance their budgets. ...
Heard: OMA chides Hoskins for comments on wage talks
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Seen: Wheelchair cab drivers protest at TTC offices over wage cuts
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Gas tax fund agreement injects billions into infrastructure
Ottawa signs $8.1 billion gasoline tax deal for infrastructure with AMO ...
Happening: Morneau Shepell launches new pension website
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Province to save $432 million on teachers’ pensions
Spending estimates show government will make lower contributions to the fund thanks to an improved financial performance. ...
Thomas calls for ‘fairness test’ to shield poor from deficit fight
In letter to Kathleen Wynne, OPSEU head also presses Liberals to back away from more privatization of government services. ...
Hoskins applauds court ruling on refugee health care
A decision that strikes down Ottawa’s move to cut care for claimants 'reflects the principles of fairness and compassion, providing the right care for those who need it,' health minister says. ...
OPSEU head says lower-paid workers should get a raise
Those earning six figures would (grudgingly) deal with a pay freeze, Thomas suggests, but 'for somebody making $40,000 a year, to lose ground every year due to inflation is very painful.' ...
Throne speech: Pension plan geared to ‘economic confidence’
'Absent a federal partner, your government will not sit idly by while more Ontarians move towards retirement without the savings they will need to live comfortably.' ...
Seen: Some Ontario tax changes went into effect Canada Day
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Fife says she’ll follow the money in new role as finance critic
NDP finance critic Catherine Fife says she'll use her new role to expose what her leader called a 'trojan horse' budget. ...
MacCharles looking forward to busy summer session
Minister of Children and Youth Services Tracy MacCharles says to expect a substantial legislative agenda when the Liberals return with a majority in the house. ...
Drummond report card: Libs working on some big items but still have work to do
Liberals say they are working on 80 per cent of Drummond report but big ticket items still left on the table. ...
OPS won’t bear brunt of balancing the budget, Wynne insists
Premier rejects a notion floated by economist Don Drummond that Liberals likely will be forced to embrace Tim Hudak-style job cuts. ...
Ontario viewed as highest-taxed province, Abacus survey finds
'Considering that Ontario and B.C. have some of the lowest taxes in the country, the results present a perception problem,' pollster observes. 'It seems the grass is always greener when it comes to tax rates in other pr ...
Rookie MPP takes on an age-old issue: pensions
Mitzie Hunter, in the newly created position of associate minister of finance, will oversee the implementation of a made-in-Ontario retirement plan. ...
Fuel taxes for transit expansion faces law of diminishing return
A report from the Residential and Civil Construction Alliance of Ontario says the province needs to look seriously at a wider use of road tolls and parking pricing to fund its transit ambitions. ...
National pension advisers call for mixed system for boosting pensions
Association of Canadian Pension Management says governments shouldn’t rely only on mandatory plans, but rather a balanced approach that includes voluntary savings through incentives. ...
Oliver denies Ottawa is short-changing Ontario
Canada's Parliamentary Budget Officer says changes to federal-provincial transfers are leaving Ontario $1.2 billion behind. ...
Seen: Former Teachers CEO Leech wins lifetime award
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Canada most competitive in business tax, KPMG finds
A study suggests Ontario has some wiggle room in the contentious issue of raising corporate rates to generate more revenue. ...
Liberals to essentially freeze program spending after this year
Underpublicized spending restraints are already worrying the province's public sector unions, who will be in contract talks this year. ...
Hudak promises action in first 100 days in premier’s office
If elected, Tory Leader would immediately begin implementing campaign promises aimed at job creation and fiscal prudence - starting with a drastically slimmed cabinet ...
Heard: Ontarians focused on jobs but still want social services
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Heard: Tories hammer Liberals provincial pension plan idea
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Ontario pension plan ‘bad news’ for workers: Fraser Institute
Wynne disputes the contention that her plan will syphon off increasingly scarce dollars from workers and employers, while Fraser analysis suggests the best route to retirement security is by growing the economy. ...
Liberal re-election will mean a credit downgrade: Fedeli
Tory finance critic asserts: "If ... that budget is brought forward again, we are going to be in a very severe financial difficulty in Ontario." ...
Seen: Wage freeze needed to boost the economy, says Hudak
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Ontario pension plan would cut jobs and wages, says CFIB
The Canadian Federation of Independent Business says proposed Ontario pension plan carries too many risks for negligible benefits. ...
Elliott challenges Liberals on their budget/platform
PC MPP Christine Elliott has three questions for Premier Kathleen Wynne about the Liberal budget. ...
Cities will need user fees to pay for infrastructure, report warns
Municipalities will need to tap other sources of money as they face a squeeze on transfer payments arising from provincial and federal governments seeking to balance their own books, according to a paper from the Univers ...
Reality Check: How lean is Ontario’s public sector
Conservative Leader Tim Hudak's plan to cut 100,000 public sector jobs has shone a light on a long-standing issue that has grown more contentious in recent years - but the jury is still out if his strategy is workable. ...
Campaign hot potato: Overhaul the corporate tax structure
While party leaders in the Ontario election suggest tinkering with the system, a report from the Mowat Centre calls for radical changes reflecting the business dynamics of the 21st century. ...
Heard: Anti-tax group hammers Wynne over jet fuel tax hike
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Reality Check: Laws aimed at spending limits have their limits
The Tory platform would tie the level of government expenditure to a percentage of GDP. Just one problem: such legislation has a history of being ignored. ...
Heard: Tories plan to merge two social assistance programs
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Heard: Moody’s sees ‘more risk’ in Liberal budget-cum-election platform
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Horwath: The NDP plan to pay for pricey promises is pending
The NDP leader says she has a plan to pay for the hundreds of millions of dollars in promises she's making. She just isn't sharing it yet. ...
Tories to cut corporate taxes by a third to create 120,000 jobs
The PC Party says it will pay for the tax cuts by ending some companies' subsidies, while Liberals will freeze corporate taxes but hike tobacco taxes and taxes on high-income earners. ...
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