Unless the provincial government starts tackling its mountain of debt soon, today's younger generation will face big struggles to pay it down, warns a new report. Ontario's financial accountability officer (FAO), who gives independent advice to the legislature about budget matters, says millennial taxpayers will have to shoulder debt the baby boomers ran up if governments ignore the need to reduce the debt. David Wake, left, is Ontario's acting financial accountability officer and David West, right, is his chief economist. (Mike Crawley/CBC)The provincial debt currently sits at about $300 billion, but the debt figure that matters most to economists is its size relative to the overall economy: the debt-to-GDP ratio. The Wynne government has not started bringing the ratio back down even though the provincial economy is ticking along.

Source: CBC News October 19, 2017 17:37 UTC