WynneCP

Finance Minister Charles Sousa will rise at Queens Park today – and unveil his new budget.  Here’s what you can expect…

Ontario’s Liberal government will outline a plan to eliminate its deficit and stem the growth of its massive debt in Thursday’s budget, the ninth in a row to be awash in red ink.

Low oil prices and a weaker loonie have helped Ontario lead the country in economic growth, but the province has the largest debt of any sub-national government in the world (expected to be $300 billon this year).

Premier Kathleen Wynne already disclosed that the cap-and-trade plan to fight climate change will add 4.3 cents to the price of a litre of gasoline and about $5 a month to natural gas bills, but the budget could detail other impacts from the scheme.

The budget will also detail already announced plans to let some grocery stores sell wine, which will get a new minimum price in the budget and could also be hit with a new tax.

There will also be more details on the government’s strategy to combat violence against indigenous women, which Wynne announced Monday would get $100 million in funding over three years.

 

(Photo courtesy of 680News.com & Nathan Denette/Canadian Press)

(Story courtesy of Allison Jones & Keith Leslie/Canadian Press)