Andrew Perez

The Backdrop

Ontario just can’t get a break. Once the economic backbone of Canada, the province was paralyzed by the global economic crisis that ravished the globe three years ago. Fast forward to January 2012: the province is saddled with a $16-billion dollar deficit and a rate of growth that is slower than that of some other provinces. With scarce natural resources to draw upon and a deep reliance on the U.S. economy, Ontario’s fiscal outlook is more severe than that of other provinces.

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