Canadian Personal Finance Blog

Well, it’s a kind of “not much for Big Cajun Man” kind of budget. My highlights of it are pretty small but I will attempt to broaden my scope to help my readers, but read here for more details on the Ontario Budget 2007 .

• A phased in minimum wage increase to $10.25 as predicted. This is a start, but again, I don’t know many folks that can live on that in Ontario.
• An enhancement to the current child care programs, but it is for very low income families, so doesn’t do much for me, but I applaud that they are helping needy folks too.
• Lots of money going to municipalities for infrastructure as well (the Mayor of Ottawa was ecstatic about this budget, which always worries me). $5.9B to be exact for infrastructure across the province.
• Property tax assessments will be for four years starting in 2009, so my house’s value which is currently increasing will only be reflected in my taxes every four years. There is also talk of changing the entire Property Tax formula, but I’ll believe that one when I see it.
• Lots of money for Business Education.
• A “balanced” budget earlier than predicted (this will be part of their election platform no doubt).
• An increase in Health spending, hiring of 8,000 more nurses but no cutting of the OHIP tax either.
• More money going to education, which is good to hear, given the programs that are being cut here in Ottawa, due to underfunding. Will this change much? Again, we’ll see.

The Beautiful Back Roads, which need fixing too.

So what you say? Well, so did I, it’s putting money back into the system, and the budget is allegedly balanced, but this is after they implemented new taxes at the start of their term, so I am not happy about that one (still).

The Education spending seems to be not well focused, and a lot of school boards are still having problems, which means, I am not sure the money is going to the right places, but at least there will be more money (hopefully that will not be solely used to give teachers, principals, custodians and staff pay raises (not that there is anything wrong with pay raises for those folks, just that every time money goes into the system, it doesn’t seem to be going to the kids?)).

Will this budget get the Liberals re-elected? I don’t think it’s a PLUS or a MINUS, it’s kind of neutral, with the big statement being that they managed to balance the budget, given the fiscal mess they were left by the Tories (quoting Liberal rhetoric, not my opinions).

I put a lot of gas into my van yesterday ($60.00) and it didn’t fill the tank. Used to be I could fill it for $40.00, now almost $75.00 is more like it, this is far too similar to the 70’s and the pre-cursor to inflation for my liking. Hope all levels of government are doing something to avert it, but I suspect inflation is coming, real soon. That is your doom and gloom for a Friday statement.