Ontario could soon become a have-not province, requiring equalization payments, Premier Dalton McGuinty told the Economic Club of Toronto in a Monday morning speech.

With the decline of Ontario's manufacturing industry, combined with higher oil prices, McGuinty said the province may qualify for equalization payments within two years.

Equalization payments are the federal government's way of offsetting differences between the provinces.

None of the four federal parties has included the cost of equalization payments for Ontario in their financial forecasts, but they should, he said.

McGuinty said he has written to party leaders asking for a commitment they won't make any changes that would exclude Ontario from receiving equalization payments.

McGuinty made the speech before going to the legislature where the fall session kicked off Monday. The economy is expected to dominate debate.