Ontario Premier Dalton McGuinty speaks to the media after making an announcement to resign.
Credits: REUTERS/Mark Blinch
The Ontario premier's decision to resign and prorogue the legislature has caught the attention and concern of Standard & Poor’s Rating Services. In a statement released this week, they question whether the province can meet its fiscal targets in the medium term during a time of heightened global
"In our view, increased uncertainty within the context of a minority government may raise the prospect of a delay in Ontario reaching fiscal balance by its fiscal 2018 target," Standard & Poor's Rating Services said.
Earlier this year, Moody’s Investors Service downgraded the province's credit rating and urged Ontario to meet its targets and reduce the provincial deficit.
The Ontario PC's continue to criticize the premier for proroguing the legislature and putting an end to all business before the house and at committees. Prorogation put a halt to a PC contempt motion before the finance committee which dealt with Liberals’ controversial cancellation of two GTA power plants.
Ontario PC MPP Rob Leone today warned there's "a strong possibility that the credit rating agencies will find uncertainty in the province of Ontario as a result of the decision to prorogue and the subsequent cabinet resignations that will happen (ahead) of the leadership race."