Sudbury economist not encouraged by Ontario economic report
A Sudbury economist says the Ontario government does not have a big development strategy for northern Ontario.
On Wednesday, Ontario’s Finance Minister Charles Sousa released his 20-year forecast warning of a shrinking work force and a slow-growing economy.
According to David Robinson, an economist at Laurentian University, the document did not pay a lot of attention to the north except to mention how mineral-rich it is.
“They don’t have a development strategy for northern Ontario, so what I expect is prices will continue to rise for natural resources and they’ll get pumped out of the province as fast as possible, as has been happening for the last 20 years,” Robinson said.
He adds that the much-hyped development for the Ring of Fire won’t do much economically in the long term.
“I don’t think it makes a big difference frankly… so you add a few thousand jobs way up in the corner in the long run and you spend a lot of money building a road or a railroad in the short run, that doesn’t change the structure of the province.”