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Accounting for Ontario's Debt

Today, the Ontario Chamber Network and OCC released its most recent report, Accounting for Ontario’s Debt, offering a thoughtful and balanced analysis of the province’s debt.

Ontario’s debt currently amounts to approximately 41 percent of the provincial GDP or, when combined with the federal debt of $680 billion, represents a near 80 percent debt-to-GDP ratio for Ontarians.

With talk of looming provincial debt top of mind, this timely report examines what Ontario’s debt means for the economy of today and tomorrow.

In a recent OCC survey, nearly 80 percent of respondent businesses stated they were concerned about the impact the provincial debt could have on Ontario’s economy.

Managing the provincial debt has been a long-standing concern for the business community as Ontario’s fiscal health directly impacts the ability of business to remain competitive and capitalize on new opportunities.

As the province heads into a time of economic uncertainty, coupled with the possibility of rising interest rates, we urge the government to focus on balancing continued investments in economic development with putting the province’s finances on steady footing.

Paying down the debt should not be at the risk of long-term economic growth or needed investments in infrastructure and services that will have a high return on taxpayer dollars, helping to bolster industry and our economy for generations to come.

Our message in advance of Budget 2019 is about balance: accounting for our province’s debt in a reasonable manner while focusing on key investments and competitive taxation is critical to a stronger Ontario and competing on the global stage.

Click Here to Read the Full Report

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Belleville & District Shrine Club
Allen Insurance - Exclusive Chamber Member Rates
Superior Propane - Save 5% on fixed price propane
Cloud Bookkeeping Services - 10% OFF
Esso Chamber
Shoppers Drug Mart - Save 20% on Thursdays
Body Systems Nutrition - 15% OFF purchases.
Papa Johns Pizza Member Offer- 25% off
Dinkles & Paulos Restaurants - 10% OFF
Parsons Cleaners Member offer - 10% OFF
Jesan Property Maintenance - SAVE 10%
NRG Alternatives - 10% Discount
Be Prepared First Aid Traning - 15% off
RBC - Save on Bank charges
Jesan Property Maintenance - SAVE 10%
NRG Alternatives - 10% Discount
Cloud Bookkeeping Services - 10% OFF
Allen Insurance - Exclusive Chamber Member Rates
Body Systems Nutrition - 15% OFF purchases.
Parsons Cleaners Member offer - 10% OFF
Belleville & District Shrine Club
Shoppers Drug Mart - Save 20% on Thursdays
Dinkles & Paulos Restaurants - 10% OFF
Esso Chamber
Papa Johns Pizza Member Offer- 25% off
Be Prepared First Aid Traning - 15% off
Superior Propane - Save 5% on fixed price propane
RBC - Save on Bank charges