Author Topic: Ontario Provincial Election 2018  (Read 4816 times)

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Offline SirJohn

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Re: Ontario Provincial Election 2018
« Reply #45 on: April 20, 2018, 11:50:30 am »
Shitposting graphs and numbers that don't contextualize the structural changes that affected the revenue stream of the government should also be illegal.

The government's revenue stream grew significantly, easily outpacing the combination of population growth and inflation.

And over the whole 2003/04 to 2015/16 period, the pace of provincial government revenue growth has exceeded the rate necessary to keep pace with increasing overall prices (inflation) and a growing population. In fact, between 2003/04 and 2015/16, total provincial government revenues in Ontario increased by an average of 4.6% per year. By comparison, the average combined rate of inflation and population growth during this same period was only 2.8%. Revenues also grew faster than the economy as nominal GDP increased at about 3.2% annually between 2003 and 2015.

In other words, government revenues grew at a rate approximately 62% faster than would have been necessary to offset the pressures placed on government finances by inflation and population growth. It also grew at an annual average rate that was 42% greater than GDP.

On the other hand.

The period between 2003/04 and 2015/16 has seen rapid spending growth—indeed unsustainable growth, given that it has outstripped both revenue and GDP growth. Consider provincial program spending alone, which excludes payments made to service existing debt. During this period, provincial program spending increased
overall by 71.6% from $70.4 billion in 2003/04 to $120.9 billion in 2015/16.
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