Is Ontario falling behind the other provinces?
September 24, 2007 | 01:29 PM
During the Sept. 20 leaders' debate, PC Leader John Tory bemoaned the drooping Ontario economy, citing the Bank of Nova Scotia's Global Outlook Forecast for 2007.
The report, released in May, says Ontario is experiencing the slowest growth rate of all provinces in 2007, forecasted to be at about two per cent in real gross domestic product, the measure of all goods and services.
In addition to the sluggish growth in the manufacturing sector, the province is also lagging in retail sales and is tied with the Atlantic Provinces for last place in job creation, the report said.
Other reports were more optimistic. TD Bank Financial Group, for example, pegged Ontario's forecast at 2.5 per cent growth this year, trailing Alberta, B.C., Saskatchewan and Manitoba, and just slightly lower than the projected overall Canadian growth rate of 2.7 per cent.
"You have allowed us to become last in so many areas," Tory told Liberal Leader Dalton McGuinty during the debate.
Do you think Ontario is losing ground compared to the other provinces?
Comments: (3)
Ontario residents are being denied acces to new advances in Diagnotic Cancer Treatment(PET Scans) by this and it seems the next Government. By blocking funding for Pet Scans in Hospitals and blocking access to Accredited Investors inside Ontario to fund research, facilities and money for this promising tool are leaving Ontario for other Provinces.
Posted October 10, 2007 09:40 PM
Fact is, if manufacturers stopped relying on a low Canadian Dollar to compete with foreign companies and increase efficiencies and low taxes, the economy would be a powerhouse once again.
Posted September 27, 2007 09:38 AM
Ontario has been losing a massive number of well-paying manufacturing jobs. The Niagara area has experienced a large number of plant closures and layoffs in recent history. What have these jobs been replaced with if anything?
Those who have had their factories closed or have been layed off have struggled to find jobs that pay less than 1/2 of their past wages. New jobs also tend to be in service industry and 'contract' jobs. Working on contract allows employers to dodge workplace health & safety legislation, minimum wages, benefits, and security. All parties should work hard in order to maintain well-paying, secure jobs and should legislate to end contract work.
Posted September 25, 2007 12:33 AM