Economy 52,910 Posted May 13, 2021 Share Posted May 13, 2021 https://www.bnnbloomberg.ca/ontario-ratings-matter-more-than-canada-s-fund-manager-says-1.1603452 Canada for a long time has had very high levels of sub-sovereign debt held at the Provincial level, an often missed detail on media as Federal Finances (which are in great shape) tend to get much more attention Canadas Provinces including the largest Ontario are facing a possible downgrade in credit as balooning debt is deemed unsustainable In Canada nearly 40% of taxes and spending is Provincial, higher than in most Nations which means the financial State of lower levels of Government has a significant impact on both the economy and credit/bond market Link to post Share on other sites More sharing options...
Economy 52,910 Posted May 13, 2021 Author Share Posted May 13, 2021 @GagaSine well Ontario has been a mess financially for nearly 20 years always overspending... Quebec was finally getting in a more sustainable position then bam pandemic hit... Alberta has been the mess ever since oil crash... Of the more populated Provinces British Columbia seems to be the only one that has its books more in order Link to post Share on other sites More sharing options...
GagaSine 7,464 Posted May 13, 2021 Share Posted May 13, 2021 Everything in that article gave me anxiety but I will admit I am not 100% sure what any of it materially means Link to post Share on other sites More sharing options...
Economy 52,910 Posted May 13, 2021 Author Share Posted May 13, 2021 15 minutes ago, GagaSine said: Everything in that article gave me anxiety but I will admit I am not 100% sure what any of it materially means Well heres 1 fact (that the article also mentioned)... Ontario is the most indebted subsovereign Government (Not Federal) in the world with a debt of over $500 Billion To put that into prespective, most Nations debt at their Federal level is not that high Link to post Share on other sites More sharing options...
GagaSine 7,464 Posted May 14, 2021 Share Posted May 14, 2021 1 hour ago, Economy said: Well heres 1 fact (that the article also mentioned)... Ontario is the most indebted subsovereign Government (Not Federal) in the world with a debt of over $500 Billion To put that into prespective, most Nations debt at their Federal level is not that high I meant more what it means for the average person, like the article mentioned healthcare becoming more expensive? Link to post Share on other sites More sharing options...
Economy 52,910 Posted May 14, 2021 Author Share Posted May 14, 2021 24 minutes ago, GagaSine said: I meant more what it means for the average person, like the article mentioned healthcare becoming more expensive? Yeah cuz of the ageing population. But thats everywhere tho. But its just bringing out that not only are we financially strained but future costs are forecast to rise on top of that Link to post Share on other sites More sharing options...
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