Canadians Are Counting All The Ways Doug Ford Has Overspent Ontario's Budget
Ford and his party reportedly added nearly $12 billion to the province's debt.
Doug Ford and the Progressive Conservatives just released their First Quarter finance report for 2019-2020. The report is totally transparent in what is going on with Ontario's finances. As one analysis found, Doug Ford's budget spending might take things in the right direction, but there still may be a long way to go.
In an analysis by the Financial Post, it was found that Doug Ford's government is currently spending more than Kathleen Wynne and the Liberals had planned to in 2019. In the 2018-2019 fiscal year alone, Ford and his party reportedly added nearly $12 billion to the province's debt. Interest charges on Ontario's current debt make up nine percent of all revenue, to the tune of $13 billion.
The Fraser Institute, as noted in the Financial Post piece, found that Ontario will have $42 billion added to its deficit before seeing a balanced budget in 2023.
A lot of Canadians, especially those in Ontario, are not actually all that surprised by the fact that the current Progressive Conservatives are outspending the Ontario Liberals.
Plenty of other Reddit users joined in the discussion to talk about Ontario's finances as a whole. One response even outlined the problem on a macro scale, looking at how all of the provinces across the country tend to have financial issues.
Yet another commenter pointed out that this kind of spending is a weakness inherent in populist politicians, who make big promises to their base and essentially then paint themselves into a corner.
And another commenter pointed to the fact that Ontario's financial woes would be better solved with more tax revenue coming, but also how that solution is generally not a popular one.
Overall, it seems that at least some Canadians are not buying into Ford's financial plan, and it will be some time before Ontarians can actually tell if things are getting better.