Twitter  Facebook  YouTubeJoin Now

Chamber News

Stay informed and discover the latest happenings in Belleville, Ontario with the Belleville Chamber of Commerce News.

 

Back to News
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

Chamber Members SAVE on products and services. Check out these Member 2 Member Offers.

Esso Chamber
Body Systems Nutrition - 15% OFF purchases.
NRG Alternatives - 10% Discount
Allen Insurance - Exclusive Chamber Member Rates
Dinkle,s Restaurant - 10% OFF
Jesan Property Maintenance - SAVE 10%
Parsons Cleaners Member offer - 10% OFF
Cloud Bookkeeping Services - 10% OFF
Be Prepared First Aid Traning - 15% off
Superior Propane - Save 5% on fixed price propane
Papa Johns Pizza Member Offer- 25% off
Be Prepared First Aid Traning - 15% off
Body Systems Nutrition - 15% OFF purchases.
Dinkle,s Restaurant - 10% OFF
Parsons Cleaners Member offer - 10% OFF
Allen Insurance - Exclusive Chamber Member Rates
Papa Johns Pizza Member Offer- 25% off
Superior Propane - Save 5% on fixed price propane
Jesan Property Maintenance - SAVE 10%
Esso Chamber
Cloud Bookkeeping Services - 10% OFF
NRG Alternatives - 10% Discount
Allen Insurance - Exclusive Chamber Member Rates
Esso Chamber
Cloud Bookkeeping Services - 10% OFF
Body Systems Nutrition - 15% OFF purchases.
Parsons Cleaners Member offer - 10% OFF
Papa Johns Pizza Member Offer- 25% off
NRG Alternatives - 10% Discount
Jesan Property Maintenance - SAVE 10%
Superior Propane - Save 5% on fixed price propane
Be Prepared First Aid Traning - 15% off
Dinkle,s Restaurant - 10% OFF