Ontario in Decline: From Canada's Economic Engine to Clunker

peaceandlove · 03-22-2009, 07:52 PM

Ontario in Decline: From Canada's Economic Engine to Clunker

Can Dalton McGuinty see the light and reverse the decay with his forthcoming budget?

Paul Vieira, Financial Post
Published: Friday, March 20, 2009

Excerpt:

Ontario's dramatic decline comes as no accident. It was decades in the making, based on a combination of mismanaged public finances and the ascent of emerging economies at the expense of high-cost manufacturing. Upon taking office in 2003, Mr. McGuinty moved to pour tens of billions of dollars into improving government services -- health care, education and social programs targeting the downtrodden -- while neglecting the changing economic landscape. To help finance this agenda, he raised corporate taxes and slapped a health-care levy on households. These moves, analysts say, helped cement Ontario as one of the least attractive places for companies to invest.

Full Article: http://www.financialpost.com/most-po...tml?id=1410203

Canada ranks third best country for business

Jack Gage, Forbes
Published: Friday, March 20, 2009

Toronto, Ont. is one of the financial hubs in Canada, which moved up four spots to No. 3 in Forbes best countries for business ranking.

The economic downturn that's swept the globe has crushed financial markets, exploded unemployment and shaken confidence in the banking system.

The disaster isn't shared equally, though. Some countries are in a much better position than others to rebound from the current malaise by attracting entrepreneurs, investors and workers.

Article continues: http://www.financialpost.com/most-po...tml?id=1409643

03-22-2009, 07:52 PM	#1
peaceandlove Avalon Senior Member Join Date: Sep 2008 Location: Turtle Island Posts: 2,776	Ontario in Decline: From Canada's Economic Engine to Clunker Ontario in Decline: From Canada's Economic Engine to Clunker Can Dalton McGuinty see the light and reverse the decay with his forthcoming budget? Paul Vieira, Financial Post Published: Friday, March 20, 2009 Excerpt: Ontario's dramatic decline comes as no accident. It was decades in the making, based on a combination of mismanaged public finances and the ascent of emerging economies at the expense of high-cost manufacturing. Upon taking office in 2003, Mr. McGuinty moved to pour tens of billions of dollars into improving government services -- health care, education and social programs targeting the downtrodden -- while neglecting the changing economic landscape. To help finance this agenda, he raised corporate taxes and slapped a health-care levy on households. These moves, analysts say, helped cement Ontario as one of the least attractive places for companies to invest. Full Article: http://www.financialpost.com/most-po...tml?id=1410203 Canada ranks third best country for business Jack Gage, Forbes Published: Friday, March 20, 2009 Toronto, Ont. is one of the financial hubs in Canada, which moved up four spots to No. 3 in Forbes best countries for business ranking. The economic downturn that's swept the globe has crushed financial markets, exploded unemployment and shaken confidence in the banking system. The disaster isn't shared equally, though. Some countries are in a much better position than others to rebound from the current malaise by attracting entrepreneurs, investors and workers. Article continues: http://www.financialpost.com/most-po...tml?id=1409643