Mr. Coyne and the Ontario Budget

My letter to the National Post this morning:

Like almost all media in this country Mr. Coyne gets it wrong, too. He talks of balance for the Ontario budget very soon , ‘soon be in balance.’

But this is untrue . It is just one part of the budget that will be in balance next year , if you can believe the Government; that is the operating or current account. The other part of the budget , the capital account will be all borrowed .

This coming fiscal year the operating budget deficit is $4.3 billion plus the capital account borrowing of $26..4 billion for a total deficit of $30.7 billion deficit for the year .

The next fiscal year 2017/18 the operating account is estimated to be zero ( we’ll see) and the capital account is to be $23.3billion, for a deficit in that year of $23.3 billion.

No balance on the budget, a deficit. Definitions are very important and the people ought to know the real numbers.

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