Rethinking Ontario’s budget: Wynne’s chance to break from the past

Financial Post | Opinion

Government workers in Ontario earn wages that are nearly 14% higher on average than private sector workers in comparable positions

With the Ontario government expected to soon introduce a new budget and the province continuing to head towards its own fiscal cliff, Premier Kathleen Wynne has a chance to make a clean break from the fiscal mismanagement of her predecessor, Dalton McGuinty.

To stem the tide of rising debt, Premier Wynne needs to initiate a radical re-think of current spending and put forth a credible plan to balance the budget in the short term. After nearly a decade of excessive spending and large deficits, Ontario’s indebtedness is more than a little worrying. A sign of the province’s significant debt is the fact that it performs worse than the poster-child for bad public finances, California, on every measure of indebtedness.

For example, as a share of the economy, Ontario’s debt (38.6%)…

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