THE CANADIAN TIMES

EC PUBLISHING SINCE 1904

Wednesday, Jan 23rd

Last updateWed, 14 Feb 2018 7pm


Strict Standards: Only variables should be assigned by reference in /home/times/public_html/ct2/modules/mod_janewsticker/helper.php on line 239
You are here: Home Canadian Times Finance

Strict Standards: Only variables should be assigned by reference in /home/times/public_html/ct2/plugins/content/jabookmark/jabookmark.php on line 68

Finance

Ontario debt to soar by $50 billion over four years: FAO

Ontario's financial watchdog is warning the province's debt is set to jump by $50 billion over the next four years.

In a statement Tuesday, the office of Ontario Financial Accountability Officer Stephen LeClair says the province's net debt will jump by $50 billion to $350 billion by 2020-21. The FAO warns that Ontario's debt burden is one of the highest among provincial governments in Ontario. An interest rate hike could put the province's credit at risk, the statement says.

"All else equal, an increase in interest rates would lead to higher interest payments, which would reduce the Province's fiscal flexibility," the report says.

Read More

52% of Wynne's MPPs in cabinet

Premier Kathleen Wynne's spin on Monday's cabinet shuffle is that 40% of it is now female.

But a number that more accurately describes Wynne's style of government is that more than half of all Liberal MPPs are now cabinet ministers.

Indeed, 52% of them - a majority - are now in Wynne's cabinet, earning $165,850 annually, or about $50,000 more than an MPP's base salary of $116,550.

Read More

Wynne's climate strategy will drive millions into energy poverty

Small wonder Premier Kathleen Wynne is in Israel this week.

That's where I'd want to be if my so-called Climate Change Action Plan was leaked to the Globe and Mail Monday.

According to its report, Wynne writes in the preamble of the 57-page document, officially still being debated by cabinet: "We are on the cusp of a once-in-a-lifetime transformation. It's a transformation of how we look at our planet and the impact we have on it. It's a transformation that will forever change how we live, work, play and move."

You bet. Because this plan setting out Ontario's energy future to 2050 will hurl millions of Ontarians into energy poverty and the poorhouse, without lowering greenhouse gas emissions linked to climate change.

Read More

Wynne, McGuinty green energy fiasco has left Ontarians drowning in red ink

Today, let's examine how much the Kathleen Wynne and Dalton McGuinty governments have cost Ontarians with their reckless pursuit of expensive, unreliable and unneeded green energy.

Last week, Tory MPP Vic Fedeli accused the Liberals of wasting $1.5 billion by not walking away in 2013 from their disastrous 2010 green energy deal with South Korea's Samsung corporation.

A spokesman for Energy Minister Bob Chiarelli countered the government saved taxpayers $3.7 billion by renegotiating the deal, adding, "we've built a strong track record in renewable energy."

Read More

Sousa claims hydro bills going down

PC Leader Patrick Brown has thrown down the gauntlet to Charles Sousa.

He's challenged the finance minister to a duel.

Hydro bills at dawn.

You show me yours, Mr. Sousa, and I'll show you mine.

It began with a testy exchange in the legislature Tuesday, after Brown spoke of a customer who was billed $113 for the delivery of no electricity whatsoever.

Only in Ontario.

Read More