Weekly News via Email
   Set as homepage | Add to favorites | Customer Service | Subscribe Now | Place an Ad | Contact Us | Sitemap Saturday, 02.24.2018
News Archive
Su Mo Tu We Th Fr Sa
 1  2  3  4  5  6  7
 8  9  10  11  12  13  14
 15  16  17  18  19  20  21
 22  23  24  25  26  27  28
 29  30  31
Online Extras
Site Services
Around Bend
Outdoor Fun
Travel Info
Shop Local

Members Of

Poll: Today's Live Poll
Email to a friend | Print this | PDF version | Comments (0 posted) 
  Blogger |   del.icio.us |   digg |   newsvine

Mar 04,2009
Canada's Ontario in record deficit
by UPI

TORONTO - The Canadian province of Ontario is facing a record $18 billion deficit for the next two years, the finance minister said in Toronto.

Speaking at a luncheon Tuesday, Finance Minister Dwight Duncan made the disclosure three weeks before he presents the official budget, the Toronto Star reported.

The figure far surpasses the old record of $12.4 billion from 1992 when the socialist New Democratic Party was in office. Part of their response was a hike in taxes, although Duncan said his Liberal government had no plans for increases later this month.

Once one of the country's most prosperous provinces, Ontario is now considered a "have-not" province, receiving more federal funds than it puts back into the economy. The most recent global recession has hit Ontario hard for unemployment, particularly in the automotive, manufacturing and mining sectors.

Dwight told reporters Ontario has also taken on a share of the federal bail-out of General Motors (NYSE:GM) of Canada and Chrysler Canada, and is also facing a decline in tax revenues, the Star said.

© 2009 United Press International. All Rights Reserved.

706 times read

Related news
Ontario reviews prayer in legislature by UPI posted on Feb 14,2008

Canadian government is divided on war by UPI posted on Feb 07,2008

Ontario, Quebec premiers challenge feds by UPI posted on Jun 03,2008

Ousted cottagers sue Indians, government by UPI posted on Feb 22,2008

Rights erosion seen in smoking driver ban by UPI posted on Mar 06,2008

Did you enjoy this article? Rating: 5.00Rating: 5.00Rating: 5.00Rating: 5.00Rating: 5.00 (total 19 votes)

Market Information
Breaking News
Most Popular
Most Commented
Featured Columnist
Horoscope Guide
Aquarius Aquarius Libra Libra
Aries Aries Pisces Pisces
Cancer Cancer Sagittarius Sagittarius
Capricorn Capricorn Scorpio Scorpio
Gemini Gemini Taurus Taurus
Leo Leo Virgo Virgo
Local Attractions
Bend Visitors & Convention Bureau
Bend Visitors & Convention Bureau

Mt. Bachelor Resort
Mt. Bachelor Resort

Les Schwab Ampitheater
Les Schwab Ampitheater

Deschutes County Fairgrounds
Deschutes County

Tower Theatre
Tower Theatre

The High Desert Museum


Deschutes County

  Web    BendWeekly.com
© 2006 Bend Weekly News
A .Com Endeavors, Inc. Company.
All Rights Reserved. Terms under
which this service is provided to you.
Please read our Privacy Policy. Contact us.
Bend Weekly News & Event Guide Online
   Save the Net
External sites open in new window,
not endorsed by BendWeekly.com
Subscribe in NewsGator Online
Add to Google Add to MSN Add to My AOL
What are RSS headlines?