Ontario's Fall Economic Outlook -- Measures to address the bleak forecast will wait for the spring Budget

There are no surprises in Finance Minister Dwight Duncan’s Fall Economic Outlook released this afternoon. As anticipated in the latest issue of The Arts Advocate Report, and clearly signaled by the Finance Minister for some time now, the Ontario deficit is much higher than predicted, expected to stand at $24.7 billion this year.

The government acknowledges that it’s facing expenditure pressures in many areas, not the least of which are job training and the auto sector. That said, the government appears to be withstanding pressure to make in-year expenditure adjustments. For the future though, the Ontario Treasury Board is launching a review of all spending to ensure that the key priorities of the McGuinty government – job creation, health care and education – remain sustainable. The outcome of that review will be part of next year's budget.

Notable for the cultural sector, this review includes a review of all boards, agencies and commissions “to ensure they are meeting Ontarians' needs and expectations.” Recognizing that the vast majority of Ministry of Culture expenditures are through agencies, this will be one initiative that arts, heritage and cultural industries will want to watch closely.

The province-wide pre-budget consultations get underway with the release of this document today. An online consultation is already open and community roundtables will be announced in November.