stocking

Wednesday December 18, 2019

Editorial Cartoon by Graeme MacKay, The Hamilton Spectator – Wednesday December 18, 2019

Tory ‘optimistic’ about Ford government transit funding despite Hamilton LRT cancellation

October 20, 2018

Mayor John Tory says he’s “optimistic” Toronto’s transit expansion projects will move forward with support from the province despite the Doug Ford government’s abrupt move to cancel funding for an LRT line in downtown Hamilton.

Tory said Tuesday morning that he spoke with the premier about the suite of new transit projects planned for Toronto as recently as this weekend.

“I can, for the moment … say that the premier is as committed as I am to move forward, to get that transit built,” Tory told reporters, calling Ford’s dedication to the projects “absolute.”

In October, the city and the province agreed on a plan that would see Queen’s Park handle the capital costs of building four major transit initiatives, including the nearly 15-km Ontario Line; a three-stop Scarborough subway extension; an expansion of Line 1 north to Richmond Hill and a westward extension of the Eglinton Crosstown.

April 7, 2018

The projects are currently estimated to cost about $28.5 billion, with funding from all three levels government — though Toronto’s City Manager Chris Murray recently warned those costs could easily balloon as details are nailed down.

There are also ongoing projects not included in the newest expansion that require buy-in from the province, such as the Finch West LRT, which is in the early stages of construction.

Caroline Mulroney, Ontario’s transportation minister, blamed the previous Liberal government for the decision to stop the project. She told CBC Toronto on Monday that a third-party analysis found the project would cost several times more than the $1 billion the Liberals had estimated.

She later admitted, under questioning from reporters, that the current government had included 30 years worth of operating and maintenance expenses in its re-assessment of the project’s cost.

In an email to CBC Toronto on Tuesday, Callum Elder, spokesperson for Ontario’s transportation ministry, said Toronto residents should have confidence that the province will uphold its funding commitments for transit projects in the Greater Toronto and Hamilton Area. (CBC)

Ontario, Hamilton, LRT, transit, Christmas, stocking, fireplace, Doug Ford, Santa Claus

Wednesday, December 23, 2015

By Graeme MacKay, Editorial Cartoonist, The Hamilton Spectator - Wednesday, December 2, 2015 Ontario to lose equalization payments as Alberta's economic fortunes fall Ontario will shed its status as a poor cousin of Confederation in the coming years, not because its economic fortunes are rebounding, but because resource-rich Alberta is falling on hard times. The federal government is expected to announce how much each province will receive in the fiscal year 2016-17 from transfer payment programs, which include equalization, before Finance Minister Bill Morneau meets with his provincial and territorial colleagues in Ottawa on Sunday evening. The equalization program redistributes national income to help poorer provinces provide services comparable to those of their richer counterparts. But equalization experts say the formula for calculating the payments is slow to respond to changes, including volatile commodity prices, which will leave Alberta carrying a disproportionate burden when the numbers are announced this weekend. Ontario began receiving equalization for the first time in 2009, a dramatic reversal of fortune for the countryÕs one-time economic powerhouse. It is now set to reclaim its status as a ÒhaveÓ province because the disparity between its economy and that of Alberta is shrinking. ÒWhat weÕre talking about here is the bad way of coming out of equalization,Ó economist Don Drummond said. The Ògood wayÓ to come out of the program, he said, is for a provinceÕs economy to rebound so that growth in its revenues offsets a loss of equalization payments. Because the equalization funding is based on a three-year national average of gross domestic product, next yearÕs calculation will still include times when oil prices were high and Alberta was booming. This means Ontario will not get Òkicked outÓ of the program for another two or three years, Mr. Drummond said. Alberta pulled up the overall standard of living in Canada when the countryÕs wealth was sh

By Graeme MacKay, Editorial Cartoonist, The Hamilton Spectator – Wednesday, December 23, 2015

Ontario to lose equalization payments as Alberta’s economic fortunes fall

Ontario will shed its status as a poor cousin of Confederation in the coming years, not because its economic fortunes are rebounding, but because resource-rich Alberta is falling on hard times.

2005

The federal government is expected to announce how much each province will receive in the fiscal year 2016-17 from transfer payment programs, which include equalization, before Finance Minister Bill Morneau meets with his provincial and territorial colleagues in Ottawa on Sunday evening.

The equalization program redistributes national income to help poorer provinces provide services comparable to those of their richer counterparts. But equalization experts say the formula for calculating the payments is slow to respond to changes, including volatile commodity prices, which will leave Alberta carrying a disproportionate burden when the numbers are announced this weekend.

2008

Ontario began receiving equalization for the first time in 2009, a dramatic reversal of fortune for the country’s one-time economic powerhouse. It is now set to reclaim its status as a “have” province because the disparity between its economy and that of Alberta is shrinking.

“What we’re talking about here is the bad way of coming out of equalization,” economist Don Drummond said.

The “good way” to come out of the program, he said, is for a province’s economy to rebound so that growth in its revenues offsets a loss of equalization payments.

Because the equalization funding is based on a three-year national average of gross domestic product, next year’s calculation will still include times when oil prices were high and Alberta was booming. This means Ontario will not get “kicked out” of the program for another two or three years, Mr. Drummond said.

2008

Alberta pulled up the overall standard of living in Canada when the country’s wealth was shifting west to the resource-rich provinces. Now that Alberta’s economy is faltering, the reverse is happening. Ontario will no longer be eligible to receive equalization once its standard of living is aligned with a lower national average.

Any province that falls below the national average is eligible for equalization. In fiscal 2015-16, Ottawa distributed $17.3-billion in equalization payments to six provinces. Ontario’s share was $2.4-billion. (Source: Globe & Mail)

Canada, Alberta, Ontario, Rachel Notley, Kathleen Wynne, Christmas, Equalization, have, have-not, province, Christmas, stocking, coal