Expect in the months to come to witness our big Ontario Government become BIGGER. We only need look at a few developments this week to see that we will be getting the government we deserve, having just given Dalton McGuinty the free reins to tax and spend.
So, now, here’s what we can expect through the next four years. Our public sector will continue to grow; public sector spending will increase. Our Ontario debt will increase.
Our Ballooning Ontario Debt
Canada’s liberal-leaning national magazine Maclean’s conveniently waited until after the Ontario election to reveal their damning expose of the Liberals’ fiscal policy:
Why Ontario is poised to become Canada’s Greece
Under McGuinty’s watch, Ontario’s debt has almost doubled to $230 billion
http://www2.macleans.ca/2011/10/17/why-ontario-is-poised-to-become-canada%E2%80%99s-greece/
Here’s an excerpt from this piece:
Traditionally known as the engine that drives Canada, Ontario is in danger of becoming the Greece of Confederation—if Greece happened to account for more than a third of Europe’s economy. Under McGuinty’s watch, Ontario’s debt has almost doubled to $230 billion, due to massive stimulus spending as well as unrestrained growth in health care and education. And it will continue to rise despite announced plans for greater austerity. By the time a balanced budget is contemplated in 2017, the province will have added an additional $67 billion in new debt. On a per capita basis, the current provincial deficit is almost twice as large as that of its next nearest wastrel, New Brunswick….
Our Ontario Energy Prices to Rise
We will also come to realize the hurt from high energy costs as a result of the Liberals’ energy policies. Brace yourself – from Monday’s paper:
… average consumer using 800 kwh a month would pay $2.11 more for the electricity alone. On the overall electricity bill, which includes other charges including transmission, the increase is 1.8%, the OEB said. But energy analyst Tom Adams pointed out via Twitter, if just the cost of electricity is looked at, the increase is 4.3%….
The reason for the cost jump is more expensive power coming online in the next year, including refurbished nuclear units at the Bruce Generating Station and increased wind generation. Under the government’s Green Energy Act, wind and solar generation, along with other forms of renewable power, are subsidized. The Ontario Power Authority will pay up to 13 cents a kwh for wind power, far more than the cost of power from hydroelectric plants or coal-burning plants. (SOURCE: http://www.torontosun.com/2011/10/17/ontario-hydro-rates-going-up )
So, we might as well just throw our wallets into the pile… there’s going to be four more years of Big Government in McGuinty’s Ontario.
