Ontario getting $200M for new child care spaces
The federal government will provide Ontario with over $200 million, specifically earmarked to create more child care spaces.
Patty Hajdu, member of Parliament for Thunder Bay-Superior North, said she’s heard from families that getting access to child care is a huge concern.
“[People] have been signing up in some cases before their child is born. I’ve heard that from families. I’ve also heard that from providers who are telling me about the lists that they have.”
Hajdu also said the lack of available child care spaces could be inhibitive for getting parents back to work if they have young children.
“This is a hugely critical component of economic success for the country. You know, we have the highest number of women in the workforce that we’ve ever seen, and a large part of that is because of child care.
In fact, care can be a real inhibitor for economic independence and for the growth of a family’s own finances, Hajdu said.
“This is about addressing the growing need and making sure that families really do have a fair chance to succeed in the market.”
Prime Minister Justin Trudeau made the funding announcement on Monday that Ontario would be receiving $201.87 million to create child care spaces in Ontario.
During his announcement in southern Ontario, Trudeau also highlighted other aspects of the 2024 budget, which includes a loan program for facilities to expand or renovate current child care spaces and a student loan forgiveness program for early childhood educators working in rural or remote communities. – tbnewswatch
article website here
Great! And the money comes from where exactly? Government budgets today run on credit. Debt. Every year, tens of billions of dollars of government spending is placed on “credit cards”. Credit cards whose balances will never be paid off. A debt that future generations of Canadians, many not yet born, will inherit. Lucky them.
The cost of servicing that debt grows each year. As of this writing, Canada’s National debt is in excess of $1.2 trillion. It grows at over $4 million each hour. Last year, the Federal Government spent just under $47 billion in interest payments.
Ontario’s debt at the time of this writing is in excess of $407 billion. It costs the Ontario taxpayer around $13 billion annually in interest payments.
Its obvious that we are living waaaaaay beyond our means. Taxes need to be raised. We are not paying near enough taxes to pay for all of the “free stuff” our governments are now expected to provide us.
Soooo this $200 million is going to cost waaaaay more than $200 million when everything is said and done.
The City of Thunder Bay also has debt. The city spends in excess of $13 million annually servicing that debt. The City of Thunder Bay gets $18 million from TbsyTel and tens of millions from senior levels of government and it is still not enough. Taxes need to be higher OR services need to be cut. Its one or the other.
Our governments are refusing to act in a fiscally responsible manner because to do so would be political suicide and we know that Job #1 for any politician, no matter municipal, provincial or federal is to get reelected. That is all that matters. It does not matter if the ship keeps sinking, as long as they are still in charge.
PS – this fiscal behavior by governments is inflationary. Whenever you add money into an economy, it causes inflation. FYI
previous related posts here