Social spending promised in Kathleen Wynne’s pre-election budget will be paid for by nearly $20 billion in new borrowing over the next three years and a quietly introduced personal income tax increase affecting those earning $92,000 or more. That’s about two million people. The 2018 budget indicates the deficit is projected to be $6.7 billion, and combined deficits for the next three years amount to $19.8 billion. The provincial debt is already about 312 billions dollars, the highest debt of any non-sovereign jurisdiction in the world.
- Wynne Liberals to run deficits for next six years
- Ontario Liberals bet big on seniors’ care, drug and dental coverage in 2018 pre-election budget
