NEWS
 
WATCH: From the spreadsheet to eye-level - Ontario's economic outlook
Ontario's Finance Minister predicts Ontario's economic growth will lag behind the rest of the world over the next 2 decades
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Toronto's Financial District

The province expects an increasing strain on the healthcare system, infrastructure and social services as the population ages.

It's outlined in Ontario's Long-Term Report on the Economy, which shows slow growth for the province over the next 20 years.

The number of Ontario seniors is expected to double to 4.1 million by 2035.  The finance minister predicts a shrinking workforce because of this, which means less income tax revenues to pay for services like healthcare.

The report backs the push by the province to improve public pension plans, outlining  that 35 per cent of households are not saving enough for retirement. It also says 66 per cent of Ontario's workers did not have a pension plan through their place of work.

The report says Ontario's average GDP growth is expected to average at around  2.1 per cent over the next 20 years, that's lower than the Canadian average of 2.2 per cent.

The province also plans to expand trade mission, with plans on wooing International investment to Ontario. The report points to places in Asia, Europe, the Middles East, Latin America and the United States. It is also eyeing Russia as a potential investor.


There are accusations of the Liberal government presenting a partisan long-term economic outlook.

NDP MPP Peter Tabuns points specifically to the report pumping up the need for an Ontario Pension Plan, something the premier has spoke over heavily over the past year.

While Tabuns says pension reform is needed, this government document is boosting the Liberal approach.

Meantime, PC Finance Critic Vic Fedeli says releasing this document took long enough, pointing to the fact that it should have been finished in October.



NEWSTALK 1010's Russ Courtney spent Wednesday morning in downtown Torotno to bring Ontario's economic outlook from the speadsheet to eye-level...

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19 0
Toronto's Financial District

The province expects an increasing strain on the healthcare system, infrastructure and social services as the population ages.

It's outlined in Ontario's Long-Term Report on the Economy, which shows slow growth for the province over the next 20 years.

The number of Ontario seniors is expected to double to 4.1 million by 2035.  The finance minister predicts a shrinking workforce because of this, which means less income tax revenues to pay for services like healthcare.

The report backs the push by the province to improve public pension plans, outlining  that 35 per cent of households are not saving enough for retirement. It also says 66 per cent of Ontario's workers did not have a pension plan through their place of work.

The report says Ontario's average GDP growth is expected to average at around  2.1 per cent over the next 20 years, that's lower than the Canadian average of 2.2 per cent.

The province also plans to expand trade mission, with plans on wooing International investment to Ontario. The report points to places in Asia, Europe, the Middles East, Latin America and the United States. It is also eyeing Russia as a potential investor.


There are accusations of the Liberal government presenting a partisan long-term economic outlook.

NDP MPP Peter Tabuns points specifically to the report pumping up the need for an Ontario Pension Plan, something the premier has spoke over heavily over the past year.

While Tabuns says pension reform is needed, this government document is boosting the Liberal approach.

Meantime, PC Finance Critic Vic Fedeli says releasing this document took long enough, pointing to the fact that it should have been finished in October.



NEWSTALK 1010's Russ Courtney spent Wednesday morning in downtown Torotno to bring Ontario's economic outlook from the speadsheet to eye-level...

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