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Ontario is not going to get off so easy…

March 21, 2009

An article in the Financial Post paints a very scary picture for Ontario, Canada

Toronto, Ontario

Here’s the gist of the article:
Manufacturing in the province is toast. The ‘big three’ have all cut production dramatically, as have Toyota/Lexus and Honda.
Tax revenue from financial services is plummeting
Housing was a big component of GDP; it’s going too.
Nearly half of all job losses in Canada are in Ontario.
High levels of taxation are keeping companies away

All in all, not good news…

Here’s the article:
Ontario in decline: From Canada’s economic engine to clunker

Peace

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