Blogs & Comment

Ontario budget: $14.1 billion deficit in 2009

Yikes. The Ontario government’s deficit for 2009 is going to be $14.1 billion a record. In seven years the Grits will be $56.8 billion in the hole.
Much of the $108.9 billion budget will go toward infrastructure projects and other economy boosting initiatives.
The government will combine the GST and HST and they’re also cutting corporate income taxes to 10% by 2013, down from the current 14%.
I’ll take a closer look at this tonight and tomorrow (I wasn’t in lock up so I’m sifting through this for the first time), but for now here’s a great recapby The Canadian Press and quicker hitfrom CBC.