Loading articles...

Ontario government spending growth slowest in 30 years under Tories: Watchdog

TORONTO — Ontario’s fiscal watchdog says program spending under the Progressive Conservatives will drop to its lowest level in 30 years as the government tries to eliminate the deficit.

The Tories have said they don’t expect to balance the budget until 2023-24 — one year past their mandate — and have been announcing a slew of cuts as they chip away at the $11.7-billion deficit.

The Financial Accountability Officer says that the government’s plans mean it will hold program spending growth to one per cent on average over the next five years, the lowest level since the mid-1990s.  

It says that means provincial spending on public services would be reduced by $1,100 per person during that time.  

The FAO warns that the government’s constrained spending will contribute to weaker economic growth.

It also says factors like increasing interest rates, high household debt and trade uncertainty could negatively impact the government’s plans.

The Canadian Press

Latest Traffic & Weather
680 NEWS TRAFFIC @680NEWStraffic 680 News Traffic Twitter verified icon
Updated 17 minutes ago
EB 401 east of Meadowvale in the express, the crash has cleared, but there is now maintenance in the left lane. Sti…
Latest Traffic
680 NEWS WEATHER @680NEWSweather 
Updated Today at 07:22 AM
As of 7am #Toronto YYZ already feels like 28. It will feel like 37 this afternoon. 🥵Heat Warning ⚠️continues Reli…
Latest Weather