, but in the end took in $46 billion. Sales tax revenue had been estimated at just $27 billion but came in at $30 billion, while corporate taxes were estimated at $14 billion and came in at $25 billion.Article contentThe NDP response was to demand the government spend more.
“Every time Doug Ford refuses to spend money on services families count on, it’s real families like ours that pay the price. Conservative choices are costing us all too much,” said NDP MPP Catherine Fife.When the Ford PCs took office, total government spending for the last full year the Liberals were in office was $154 billion, it’s now $183 billion. That’s an increase of $29 billion — or 19% — over what the Wynne Liberals were spending, while inflation over that same time period was just 6%.
In fairness to the Ford government, much of that increase, but far from all, has been driven by the province’s response to the COVID-19 pandemic. In some areas, this is simply out of control bureaucratic spending and the NDP wants more of it, not less.Article contentThat surplus, small as it is, looks very good right now, but it could easily disappear. Top economists at Royal Bank, BMO, Desjardins and other leading financial institutions are all predicting a recession in early 2023.
He cited rising interest rates, persistent inflation and geo-political risks to our economic outlook. All of those issues are on the horizon, which is why it’s time for the Ford government to act like they are fiscally prudent instead of just talking about it.
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