The Ontario Progressive Conservative Party has unveiled a campaign platform featuring promises of up to $40 billion in new spending, predominantly in response to anticipated U.S. tariffs. Party leader Doug Ford cautioned that this could potentially disrupt their plans to balance the budget by 2026-2027. With no introduction of new revenue measures, funding the proposed expenditures may necessitate deeper deficits. A controversial plan to eliminate minimum retail prices for liquor is also included, along with an ambitious $100 billion proposal for a traffic tunnel in Toronto, raising questions about fiscal prudence.
Doug Ford warned that if U.S. tariffs escalate, it could plunge Ontario deeper into deficit, jeopardizing the province's financial recovery plans.
The campaign platform includes promises of up to $40 billion in new spending, largely contingent on the potential impact of U.S. tariffs.
Ford's platform lacks major new revenue streams, primarily relying on deficit financing, which casts doubt on the province's budget-balancing goal.
The construction of a traffic tunnel under Highway 401 has been proposed, but its potential cost of $100 billion raises concerns about fiscal responsibility.
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