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2 May 2014

Budget Review

TD Economics provides the following highlights of the of the 2014 Ontario Budget




•    The Ontario government expects to post an $11.3 billion deficit (1.6% of GDP) in fiscal 2013-14, slightly lower than the $11.7 billion shortfall projected in last year’s budget.

•    The government has raised its near-term deficit targets. Red ink of $12.5 and $8.9 billion are anticipated over the next two years, respectively, some $1.5-$2.5 billion higher than shown a year ago.

•    Thereafter, stronger economic growth is expected to help the Province ride to a balanced budget by fiscal 2017-18 – identical to last year’s objective.

•    The net debt-to-GDP ratio is projected to reach a high in fiscal 2015-16 at around 41%, then to edge lower beginning in fiscal 2016-17.

•    A $29 billion transportation infrastructure plan, a proposal for a new Ontario pension plan, a new Jobs and Prosperity fund and support for low-income families formed the core of today’s budget. That said, with underlying restraint still the catch phrase, program spending growth is planned to be held to a very lean 1.1% per year on average through fiscal 2017-18.

•    In order to fund initiatives and bring the deficit down, the government announced a string of new revenue measures, including tax hikes on higher-income individuals, tobacco and aviation fuel. Sales of some public assets were also confirmed, which will provide one-time benefits to coffers.    



1 May 2014

Trying to Get Rich .. day by day

Get rich (quick)

Enrich your world by creating value for others.

Enrich your health by walking twenty minutes a day.

Enrich your community by contributing to someone, without keeping score.

Enrich your relationships by saying what needs to be said.

Enrich your standing by trusting someone else.

Enrich your organization by doing more than you're asked.

Enrich your skills by learning something new, something scary.

Enrich your productivity by rejecting false shortcuts.

Enrich your peace of mind by being trusted.

The connection economy pays dividends in ways that the industrial one rarely did. 

Posted by Seth Godin on May 01, 2014


Have a great day!!



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