Overview of The Report on the Panel on the Role of Government(2004). This Report includes recommendations for a number of new spending initiatives, as well as regulatory and tax reforms. The purpose of this review is to appraise the fiscal feasibility of implementing the Panel's recommendations over a medium term (10 to 12 year) period. The main thrust of the Panel's recommendations is for the enhancement of human capital in Ontario; indeed the sub-title of their report is "Creating a Human Capital Society in Ontario." Increased spending on education accounts for the lion?s share of the new spending initiatives in the Panel?s Report, as is shown in Table 1. When fully implemented, the Panel's recommendations would entail increased annual spending on post-secondary education of $1.3 billion. Other spending initiatives include a childcare subsidy, costing about $150 million, and a rent subsidy for low-income persons, also costing about $150 million. In current dollars the total cost of the Panel's new spending initiatives would be about $2.7 billion when fully implemented. However, the total cost will likely increase in the future with inflation and the growth of the relevant demographic age groups. Taking into account those two factors, the total cost of the panel's recommendations would rise by about 2 to 3 percent per year.
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Paper provided by International Tax Program, Institute for International Business, Joseph L. Rotman School of Management, University of Toronto in its series International Tax Program Papers with number
0408.
Find related papers by JEL classification: O18 - Economic Development, Technological Change, and Growth - - Economic Development - - - Regional, Urban, and Rural Analyses H70 - Public Economics - - State and Local Government; Intergovernmental Relations - - - General
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Richard M. Bird & Thomas A. Wilson, 2003.
"A Tax Strategy for Ontario,"
International Tax Program Papers
0407, International Tax Program, Institute for International Business, Joseph L. Rotman School of Management, University of Toronto, revised Apr 2004.
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