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

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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  1. Frankie posted on 04/02/2014 10:38 AM
    Governments are limited as to how much they can help the economy. They are usually best being more involved during slowdowns and backing off during a robust economy in order to lessen the valleys.

    Government policy can certainly hurt economies by instituting disastrous policies that dramatically hinder business and drive costs up for both business and individuals. A perfect case study of disastrous policies can be readily found in the Ontario Liberals the past 11 years.

    These policies have resulted in a per capita debt 5X that of California, which has been in a fiscal mess of its own, billions wasted with nothing to show, resulting in increased taxation to pay for the waste, an energy policy that will substantially hurt business competitiveness for the next 30 years as well as affecting consumer dramatically, etc.

    The list is too extensive to include here.

    To summarize, this government has caused tremendous damage to Ontario's economy and its future, no matter how the Liberals try to spin it.
  2. john posted on 04/02/2014 10:52 AM
    thx u liberals for putting this province into the chapter 11 club . go fuc&^$%#$^k your self . time to have real people ruining this province CLEARLY the liberals are not the ones .
    1. Sonny posted on 04/02/2014 11:38 AM
      @john The U$ will also be growing slower than the World average.
      The main thing is there will be growth! What does Hudak have to offer?
    2. Cons For Nothing posted on 04/02/2014 01:15 PM
      @john Do you know how to read, john? There's no mention of chapter 11. We don't even have that IN CANADA. You 'Cons' are really, really stupid, eh?
      Try this one : If you don't want to pay tax and want no Government...move to Mauritania. Maybe you can get a job with a marauding bunch of gangs there and live out your life (until 49) in the lap
      I'll take Liberals and a billion dollar loss over you pathetic, mind-numbingly dumb, race to the bottom, 'Con'servatives any day!
      How about the $3 BILLION Dollars the Federal 'Cons' can't account for in the WOT budget? No complaining there, eh, con?
      How about the $BILLIONS$ wasted in the war in Afghanistan..not to mention poor, dead soldiers. No complaining there, eh, con?
      No, you guys are all the same. It's EVERY ONE else's fault, accept when the dumbest guys on the block, YOU, do it.
      "Vote 'Con'servative! Because racing to the bottom never felt so good!"
      - Paid for by the morons to elect TIm Hoodat.
  3. Sonny posted on 04/02/2014 04:23 PM
    Dear Angry, Nothing... Don't be angry if the PCs don't win. If I don't vote Lib then I will vote ND or possibly Green.
  4. Frankie posted on 04/02/2014 04:57 PM
    Reading the various comments posted merely confirms my comments about Ontario Liberal voters being the dumbest in Canada. Too bad they don't have the intelligence of Quebec voters. We may not agree with them but they are the most astute.

    Hi, I'm a Liberal, I'll steal, lie, mismanage, and continually destroy this province. Vote for me, and they have the last 11 years. That's the group the late night talk show hosts should be parodying.
    1. Gidget posted on 04/03/2014 07:32 AM
  5. Jack posted on 04/02/2014 05:04 PM
    It's simple:

    A vote for the Liberals is a vote supporting corruption, theft, lies and waste.
    A vote for the NDP is a vote supporting outright looting from everyone in the province who works for a living, so that the mooches on welfare and in unions can live undeservedly above their means.
    A vote for the Green party is effectively a spoiled ballot.

    The only option for a sensible person with a family to support is the Conservatives.
    1. Sonny posted on 04/02/2014 08:08 PM
      @Jack Hudak is proposing corporate tax cuts. I'd rather have existing services with the taxes I pay then benefitting corporations like Porter which had the Ad push..
    2. Gidget Rules posted on 04/03/2014 07:32 AM
      @Jack Dumb.
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