The 2007 Ontario Budget projects small surpluses for the next two years. However, rapid growth in health-care spending is limiting the ability of the Ontario government to introduce new measures aimed at enhancing productivity.
The 2007 Ontario Budget: A Balanced Budget . . . But Health-Care Spending Growth Worrisome
The 2007 Ontario Budget: A Balanced Budget . . . But Health-Care Spending Growth Worrisome
Health and Healthcare
Provincial Economic Analysis
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- Ontario expects to post small surpluses or balanced budgets in fiscal years 2007–08 and 2008–09 thanks largely to new federal transfers and higher-than-expected personal and corporate income tax collections.
- Growth in health-care costs continues to strain provincial coffers and crowd out other programs. If the Ontario government is ever to advance its productivity and competitiveness agenda, it will need to contain future increases in health-care spending to the 5 per cent growth rate assumed in the 2007 Budget. Since 2001–02, Ontario’s health-care spending has grown by an average annual compound rate of 8.4 per cent.
- With the exception of increased spending on child benefits, social services and health, the 2007 Budget offers little in new program spending. The proposed Ontario Child Benefit (OCB) is the largest new measure, delivering $2.1 billion over five years to low-income families.
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