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w w w .insideH A LT O N .com | OAKVILLE BEAVER | Friday, M ay 5, 2 0 1 7 | 6 E d ito ria l Ontario a correction away from a debt crisis The Kathleen W ynne governm ent turned the hscal page April 27 and introduced a balanced budget, and if you listened carefully, you could hear the congratulatory backslapping from Toronto all the way to Port Severn. It was 10 years ago w hen Ontario ran balanced budgets in 2006 and 2007, but that gave way to $20-billion-a-year dehcits in 2008 and 2009 w hen the econom y tanked and the Grits had no choice but to hand the auto industry a $3.3 billion life line, or face the collapse of auto manufacturing in Ontario. At the time, then-premier Dalton McGuinty made a promise to balance the budget by 2017, and w hile the Liberals should be com m ended for get ting their budget in order, there' s a bogeyman lurk ing in the Province' s balance sheet. The provincial debt for this hscal year is expected to hit $312 billion, and in a recent m eeting with Metroland Media editors, Senior Econom ist with RBC Robert Hogue said "tough m edicine" is need ed to tackle the debt. "Debt has increased quite signihcantly and debt to GDP is running at 40 per cent," he said. In 2016-17, the Province expects to spend $11.4 billion on interest payments on that debt. That' s nearly $1 billion a m onth just to service existing debt, and in case you need to be reminded, that coin com es from your pocket. To put it in terms w e can all relate to, every per son in Ontario w ould need to pony up $22,000 to pay off the debt. Hogue said this m assive debt leaves the Province w ithout a rainy day fund in the event the econom y slow s to a point requiring stim ulus spending, and if interest rates rise, as expected they w ill, the interest payments on the debt w ould skyrocket. We agree w ith Hogue w hen he says it' s time the Province create a plan to tackle the debt by creating a "hard target for debt-to-GDP ratio" that sits m uch lower than where w e are now. However, w e didn't see that recently. W hat w e did see was a desperate Liberal govern m ent waving costly carrots in voters' faces. The W ynne governm ent' s shopping list includes a drug plan for those under age 24, costing $465 m illion a year and $200 m illion next year to in crease affordable licensed child care spaces. Noble programs for sure, but not at a time w hen the provincial governm ent continues to add about $10 billion a year in new debt as long as it holds power, and if the W ynne governm ent continues to spend like a drunken sailor on shore leave -- gen erations of Ontario residents w ill be buried under a m ountain of debt from w hich they may never es cape. The Oakville Beaver welcomes letters from its readers. Letters will be edited for clarity, length, legal considerations and grammar. In order to be published all letters must contain the name, address and phone number of the author. Letters should be addressed to: The Editor, Oakville Beaver, 5046 Mainway, Unit 2, Burlington ON L7L 5Z1 or via email to ablackburn@oakvillebeaver.com. The Beaver reserves the right to refuse to publish a letter. "Connected to your Community" O N M IE Beaver. 5046 Mainway Unit 2, Burlington ON L7L 5Z1 General Inquiries: (905) 845-3824 Classified Advertising: (9 0 5 ) 632-4440 Circulation: 5300 Harvester Rd., Burlington (905) 631-6095 Volume 55 | Number 35 The Oakville Beaver is a division of ·* m etrolandm edia · C o n n ectedtoy o u rc o m m u n ity ® Editorial and advertising content of the Oakville Beaver is protected by copyright. Unauthorized use is prohibited. Vice -President and Group Publisher of Metroland West Regional General Manager Advertising Director NEIL OLIVER KELLY MONTAGUE DANIEL BAIRD M anaging Editor ANGELA BLACKBURN RIZIERO VERTOLLI Photography Director Business Manager LORI ANN GZOVDANOVIC MARK DILLS Director of Production MANUEL GARCIA Production Manager MyView Director of Distribution CHARLENE HALL KIM MOSSMAN Circulation Manager Keeping Halton prepared for emergencies E mergencies can happen anywhere, any time, and Halton Region is ready to re spond. Halton' s emergency management program includes prevention, mitigation, preparedness, response and recovery to ensure our essential services remain available when you need them most. We work year-round with each local municipality and community organizations to minimize risks, coordinate response efforts and reduce the impact of emergency situations. Under the Halton Community Emergency Response Plan, every municipal partner has a role in keeping the community safe, from hrst responders to local/Regional staff and elected ofhcials. Through joint exercises and ongoing dis cussions, we continuously assess and improve our strategies to ensure their effectiveness. These plans and policies help protect resident health and safety, drive infrastructure enhancements and preserve our strong hnancial position by al lowing us to minimize the potential impacts of Beaver. T hSS Proud Official Media Sponsor For: C anadian C irculations A udit B oard M em ber Recognized for Excellence by Gary Carr Halton Region Chair AW O ntario C om m unity N ew spapers A ssociation C anadian C om m unity N ew spapers A ssociation an emergency. The Region is ready to respond, and I encour age everyone to participate in this shared respon sibility that involves residents, government and the community. Personal emergency prepared ness helps keep you safe and supports hrst re sponders in a crisis by allowing them to focus their attention on those in immediate need. With three simple steps, you can contribute to community resilience for everyone in Halton. First step: know the risks -- identify potential hazards in your community and stay informed about emergencies through alerts from the Prov ince or your local news provider. LocalMediaossociation Proud Official Media Sponsor For: H alcor P .... ,a a l,,,iM J2 W e l c o m e ^ JL V j Ontario Press Council Defending principles to inspire public trust see Everyone on p.10 The Oakville Beaver is a member of the Ontario Press Council. The council is located at 80 Gould St., Suite 206, Toronto, Ont., M5B 2M7. Phone 416-340-1981. 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