Ontario’s five-year path to balance the books

Ontario’s five-year path to balance the books

By MPP Toby Barrett

To The Haldimand Pres

With Budget 2019, Ontario is committed to balancing the books in a responsible manner – restoring accountability, sustainability, and trust. The previous government left behind a $15 billion structural deficit.

The government’s plan will prioritize investments that generate the greatest returns for people in Ontario and protect what matters most. Programs will be continually reviewed to ensure they are efficient, effective, and modern, while relying on best practices from around the world.

Over the course of this five-year path to balance, total revenue is projected to grow at an average annual rate of 3%. Comparatively, program expense over the same period is budgeted to grow at an average annual rate of 1%.

In order to achieve a balanced budget while protecting what matters most, it is important to transform programs, not only to find efficiencies and savings, but also to make services more modern and accessible.

Several programs have been streamlined to centralize administrative functions.

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