TORONTO — Federal Finance Minister Jim Flaherty's moving target for balancing the budget proves you can't believe the deficit projections coming out of Prime Minster Stephen Harper's government, Ontario Finance Minister Dwight Duncan says.
Flaherty has now changed his budget-balance date five times, most recently pushing it back by one year to 2016-17, Duncan said.
"I will again predict that we will balance before the federal government does," he said.
Ontario's plan calls for the provincial books to be in balance by 2017-18.
Duncan said he takes no great pleasure in being right on this issue, despite Flaherty's open criticism of the way Ontario manages its fiscal affairs.
When it was pointed out that he is known for constantly re-adjusting his own deficit figures, Duncan insisted his numbers are going in the right direction.
"I would much rather do better than the targets we lay out than do what Mr. Flaherty did and report that he missed his target eight months after by 25%," Duncan said.
A "worrisome" revelation in Flaherty's federal fall economic outlook was a projected decline in HST and corporate tax revenues in future years, which could have an impact on Ontario's bottom line, he said.
Original Article
Source: sun news network
Author: ANTONELLA ARTUSO
Flaherty has now changed his budget-balance date five times, most recently pushing it back by one year to 2016-17, Duncan said.
"I will again predict that we will balance before the federal government does," he said.
Ontario's plan calls for the provincial books to be in balance by 2017-18.
Duncan said he takes no great pleasure in being right on this issue, despite Flaherty's open criticism of the way Ontario manages its fiscal affairs.
When it was pointed out that he is known for constantly re-adjusting his own deficit figures, Duncan insisted his numbers are going in the right direction.
"I would much rather do better than the targets we lay out than do what Mr. Flaherty did and report that he missed his target eight months after by 25%," Duncan said.
A "worrisome" revelation in Flaherty's federal fall economic outlook was a projected decline in HST and corporate tax revenues in future years, which could have an impact on Ontario's bottom line, he said.
Original Article
Source: sun news network
Author: ANTONELLA ARTUSO
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