[MathsOX]

Remember that this is about Ontario, not Canada. Ontario happens to be the largest sub-sovereign debtor in the world and has had spreads over underlying CAD govie benchmarks increase dramatically over the past few years.

Unless this plan is revenue neutral, which is likely not going to be the case, markets will continue to charge ever greater premiums for borrowing. Ontario desperately needs to get its fiscal house in order; it spends like it's a sovereign with the capacity to access a broad set of monetary and fiscal measures that only sovereigns have.