Kwynne

Kathleen Wynne e-News, November 18, 2010

Fall Economic Statement delivered today

November 18, 2010

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Hi Everyone,

I’m pleased to let you know that yesterday Minister Dwight Duncan delivered the Fall Economic Statement. Here are a few of the highlights:

  • Ontario’s GDP growth will be up 3.2% in 2010, up from what we forecast in our 2010 Budget.
  • The U.S. has recovered only 10% of the jobs lost due to the recession. Ontario has recovered 75% of the jobs lost in the downturn.
  • Since 2003, we’ve replenished Ontario’s energy supply with new, clean energy – we’ve closed and are closing coal plants.
  • 20% of that new power comes from renewables like wind and solar.

We have made these investments because people told us clearly that they want long-term solutions to air quality and reliable energy. At the same time, we recognize that these investments cost money. Electricity costs are going up and will continue to go up over the next few years.

And so we’re introducing the Ontario Clean Energy Benefit (OCEB), which will take 10% off your monthly electricity bill for 5 years, starting January 1, 2011.

Finally, the projected deficit for 2010/11 – $18.7 billion – is now projected to be almost 25% lower than what was forecast a year ago.

There is obviously more to do, but I wanted you to have the opportunity to see the complete statement. Click here to read the 2010 Ontario Economic Outlook and Fiscal Review .

As always, I look forward to hearing from you. Have a great weekend.

All the best,
Kathleen



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