FOR IMMEDIATE RELEASE:
April 11, 2019
QUEEN’S PARK – For the first time in more than a decade, Ontario’s budget presents a plan to deal with deficit and debt.
Ontario is the most indebted sub-national government on earth. Interest payments on the $343 billion debt rang in at $13.3 billion last year, the fourth largest expenditure in the budget. These are dollars that can’t be spent on health care, education or other important government services. In fact, this equals $24,000 of debt for each and every resident of Ontario.
Each year the government spends more dollars than it takes in – deficits that accumulate in the debt.
This year’s budget, with a deficit of $11.7 billion, is part of a plan to eliminate the deficit in 5 years and start paying down the debt.
“Ontario’s debt is a huge burden on future generations,” said Haldimand-Norfolk MPP Toby Barrett. “This budget is the first to come up with a plan to lift this weight off the shoulders of our children and grandchildren.”
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For more information, contact MPP Toby Barrett at 519-428-0446 or toby.barrett@pc.ola.org