( Richard Brennan / Toronto Star file photo )Ontario’s financial watchdog is ringing the alarm bell again about continued budget deficits despite repeat promises from Premier Kathleen Wynne that the books are balanced in time for next June’s election. While Ontario’s financial accountability officer Stephen LeClair acknowledges the Liberal government can balance the budget this fiscal year, thanks, in part, to strong tax revenue growth, he warns the next five years won’t be so easy. Deficits could hit $6.5 billion by 2022 and the province’s net debt soar $76 billion to more than $390 billion. “Beyond 2017-18, the deficit is projected to deteriorate steadily due to rising expenses and moderate revenue growth,” LeClair wrote in his spring economic outlook, released Wednesday. “We have brought in a balanced budget, the first balanced budget in almost a decade.

Source: thestar May 31, 2017 14:37 UTC