A Nation Cannot Tax Itself Into Prosperity
The Ontario PCs have released their budget — and as expected, it’s virtually indistinguishable from something the former Liberal government would have tabled.
When asked why the PCs reneged on their promise to return Ontario to balance, Doug Ford summed up his government's reckless fiscal approach in one sentence:
“We can balance the budget another year.”
Ontario has not had a single balanced budget since the PCs took office in 2018.
That’s six straight years of deficits, with another $14.6 billion shortfall projected for 2025.
The budget will not be balanced until 2027-28, and only in the most optimistic forecast.
A slower-growth scenario shows a $7.7 billion deficit by 2028.
Ontario’s net debt is expected to reach half a trillion dollars — $501.7 billion — in the next two years.
If fully realized, this record-setting figure would mean the Ontario PCs would be responsible for adding nearly $150 billion in debt since 2018.
Instead of tightening spending or delivering desperately-needed tax relief to make Ontario competitive again, the Ford PCs are pouring billions of dollars into corporate handouts:
$11 billion in “tariff relief” for big business
$5 billion in the new “Protecting Ontario Account,” a liquidity backstop for corporations — with no clear criteria
Another $5 billion for the “Building Ontario Fund”
$600 million more to the “Invest Ontario Fund”
This is government picking winners and losers, while taxpayers foot the bill.
There is nothing conservative about it. And by further indebting the province without lowering taxes, the Ford PCs are actively discouraging new businesses from starting or expanding in Ontario.
In the words of Winston Churchill:
“We contend that for a nation to try to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle.”
Doug Ford and the Ontario PCs have long abandoned their 2018 campaign promises to balance the budget and cut income taxes, and instead have embraced corporate welfare and McGuinty-Wynne levels of overspending — always citing a new excuse or “emergency.”
The New Blue Party of Ontario stands for fiscal conservatism, with balanced budgets as the standard — not the exception.
If you’re tired of watching your tax dollars vanish into politically motivated subsidies, join the party that puts Ontario families and taxpayers first.
Become a member of the New Blue Party: newblueontario.com/membership
Chip in with a donation to help us keep moving forward: newblueontario.com/donate
Let’s bring fiscal discipline and integrity back to Queen’s Park.
Together, we will challenge the left, balance the narrative, and change the course in Ontario.
Thank you for your support!
Belinda Karahalios
New Blue Party of Ontario
P.S. Contribute to New Blue to help us grow and receive a generous tax credit – click here!
FOLLOW US ON SOCIAL MEDIA! CLICK HERE!
Copyright © 2025 New Blue Party of Ontario, All rights reserved. Authorized by the CFO of the New Blue Party of Ontario.
