Ontario's deficit jumped to $7.4B last year, fiscal watchdog says - 2019-10-17

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F94.png Ontario's deficit jumped to $7.4B last year, fiscal watchdog says October 17, 2019, Robert Benzie, Toronto Star

Ontario's budget deficit doubled in size last year due to mostly to "policy choices by both the previous and current governments," says the province's independent fiscal watchdog.

The Financial Accountability Office says the $3.7-billion deficit in former premier Kathleen Wynne's final full year in office ballooned to $7.4 billion under Premier Doug Ford due in part to cancelled climate-change initiatives and subsidizing hydro bills.

"This sharp rise was largely the result of policy choices by both the previous and current governments — including the cancellation of the cap-and-trade program and higher spending on electricity subsidies," the FAO said Thursday.

Wikipedia cite:
{{cite news | first = Robert | last = Benzie | title = Ontario's deficit jumped to $7.4B last year, fiscal watchdog says | url = https://www.thestar.com/politics/provincial/2019/10/17/ontarios-deficit-jumped-to-74b-last-year-fiscal-watchdog-says.html | work = Toronto Star | date = October 17, 2019 | accessdate = October 18, 2019 }}