Stephen LeClair
Stephen LeClair, the civil service budget watchdog, says it is unlikely that Ontario will achieve a balanced budget for the 2017-18 fiscal year. Indeed, LeClair said it looks as though the deficit could approach $3.5 billion, partly because of lower than anticipated tax revenues. He suggests revenues could be off by approximately $1 billion because of slower economic growth. The provincial debt is closing in on $293 billion and costs taxpayers $10 billion just to pay the interest. Finance Minister Charles Sousa said he and the government “remain committed to balancing the budget by 2017-18.”
