Ontario’s Liberal government is breaking its promise to maintain a balanced budget this year, saying its upcoming fiscal plan will run a deficit in order to fund programs for seniors, women and students ahead of a Spring election. Last year the minister, Mr. Sousa, had promised a strong of annual budgets that woild all be balanced. The budget now set for March 28 will, as the minister put it, invest to create growth. he went to say in a speech at noon:. “You cannot create jobs by beggaring your future prospects. As I have said many times — balancing the budget is not an end in itself. It is a means to an end. And that end is a stronger Ontario.” The provincial debt is something in excess of $300 billion
BOC HOLDS RATE STEADY
The Bank of Canada kept its key interest rate target on hold Wednesday as it pointed to a climate of broadening, important unknowns around trade. In explaining its decision to maintain its benchmark at 1.25 per cent, the central bank noted that recent trade policy developments have created thickening clouds around the outlook for the Canadian and global economies.
