TORONTO -
The Opposition says it's no joke that Ontario officially became a have-not province on April Fool's Day.
Interim Progressive Conservative Leader Bob Runciman calls it "a dark day" in Ontario's history as the province officially qualifies for payments under the revenue-sharing equalization program.
However, Finance Minister Dwight Duncan says Ontario will really be paying itself.
He says the equalization formula has been adjusted so many times it bears little resemblance to the economic realities of Canada.
Duncan says it has nothing to do with relative wealth and everything to do with transferring money between provinces "for a variety of reasons that aren't related to the original purpose of the formula."
Ontario will get $347 million this year under equalization, which Duncan notes is almost exactly the same amount the province will lose with the end of some one-time federal payments.
Runciman says Ontario fell to have-not status because of "the mismanagement, the out-of-control spending and a lack of priorities" by Premier Dalton McGuinty and his Liberal government.
The Opposition says it's no joke that Ontario officially became a have-not province on April Fool's Day.
Interim Progressive Conservative Leader Bob Runciman calls it "a dark day" in Ontario's history as the province officially qualifies for payments under the revenue-sharing equalization program.
However, Finance Minister Dwight Duncan says Ontario will really be paying itself.
He says the equalization formula has been adjusted so many times it bears little resemblance to the economic realities of Canada.
Duncan says it has nothing to do with relative wealth and everything to do with transferring money between provinces "for a variety of reasons that aren't related to the original purpose of the formula."
Ontario will get $347 million this year under equalization, which Duncan notes is almost exactly the same amount the province will lose with the end of some one-time federal payments.
Runciman says Ontario fell to have-not status because of "the mismanagement, the out-of-control spending and a lack of priorities" by Premier Dalton McGuinty and his Liberal government.
