Ontario's Community and Business Leaders Support McGuinty Government's Campaign to Resolve the Fiscal Imbalance

Archived Release

Ontario's Community and Business Leaders Support McGuinty Government's Campaign to Resolve the Fiscal Imbalance

Ministry of Intergovernmental Affairs

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A Strong Ontario for a Strong Canada
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TORONTO, July 13 /CNW/ - Community and business leaders are behind Premier Dalton McGuinty's campaign to resolve the fiscal imbalance in a way that is fair to all Canadians, including those who live in Ontario, according to a report released today.
"Canadians' future prosperity depends, to a great extent, on Ontario's ability to continue to generate wealth, invest in our people and meet the challenges of the global economy," said Dr. Marie Bountrogianni, Minister of Intergovernmental Affairs. "Ontario wants solutions to the fiscal imbalance that will benefit all Canadians, including the 39 per cent of Canadians who live in Ontario."
The report summarizes the outcomes of A Strong Ontario for a Strong Canada, a one-day summit on fiscal imbalance held in Toronto on June 21, 2006. It shows that the more than 200 leaders, stakeholders and citizens representing a diverse range of sectors in Ontario who attended the summit agree that current fiscal arrangements need to be changed to promote Ontario's and Canada's competitiveness and prosperity.
"We must correct the fiscal imbalance so that Ontario is optimally positioned to compete in this brave new world," Dr. Ilse Treurnicht, CEO of the MaRS Discovery District, said at the summit. "We must focus our investments, our talents, our creative resources strategically and relentlessly on this task."
The federal government currently provides Ontario with less per capita funding than it provides to other provinces. Ontario receives $86 less per capita cash in Canada Health Transfers and Canada Social Transfers from the federal government than equalization-receiving provinces. This contributes to the fact that Ontario ranks last when it comes to support for postsecondary education, while taxing at the national average.
The Government of Ontario will continue its campaign to address the fiscal imbalance when Premier McGuinty meets with Canada's premiers in July at the Council of the Federation meeting in St. John's, Newfoundland and Labrador.
"Premier McGuinty will take what he's heard and share it with his fellow premiers and with the Prime Minister," said Bountrogianni. "Only by working together will we find a solution to the fiscal imbalance that is fair to all Canadians."
Visit www.strongontario.ca to read the full report.
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www.mia.gov.on.ca
www.strongontario.ca
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For further information: Sarah Charuk, Minister's Office, (416) 212-7234, (416) 894-2870 - cell; Erika Botond, Communications Branch, (416) 325-3558