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Ontario government's direct subsidies to corporations average $2.7 billion per year over the five years to 2011. [31] It has been argued that business subsidies such as to the Ontario's automotive sector does not help create widespread economic growth or new jobs and instead contributes to increased debt. [31]
The Ministry of Finance is a ministry of the Government of Ontario responsible for managing the province's fiscal policy, developing the provincial budget, and financial sector regulation. The minister of finance – called the treasurer before 1993 – leads the ministry and is responsible to the Legislative Assembly of Ontario.
Although the Treasury Board possessed a secretary as early as 1956, a permanent Treasury Board Secretariat was not established until 1962. Initially, the secretariat only has two broad functions: to support the Treasury Board as a committee of cabinet, and to provide management and budgetary advisory to ministries and agencies of government.
Jointly engaged in the implementation of this system are the federal Government of Canada and the governments of British Columbia, Ontario, Saskatchewan, New Brunswick, Newfoundland and Labrador, Nova Scotia, Prince Edward Island, and Yukon, under an interim body called the Capital Markets Authority Implementation Organization (CMAIO; French ...
Canadian public debt, or general government debt, is the liabilities of the government sector. [1]: 23 Government gross debt consists of liabilities that are a financial claim that requires payment of interest and/or principal in future.
The Ministry of Economic Development, Job Creation and Trade (formally known as Ministry of Economic Development and Growth) in the Canadian province of Ontario is responsible for programs to attract and retain business and economic development in the province. This is pursued through research and development funding, business advisory services ...
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If a central bank purchases a government security, such as a bond or treasury bill, it increases the money supply because a Central Bank injects liquidity (cash) into the economy. Doing this lowers the government bond's yield. On the contrary, when a Central Bank is fighting against inflation then a Central Bank decreases the money supply.