Ontario's NDP government hit everybody with increased taxes in its May budget. Personal income tax went up, and big businesses faced a minimum corporate tax. New taxes were slapped on parking lots, auto insurance, gravel and brew-your-own stores. Finance Minister Floyd Laughren's budget took two billion dollars in taxes out of the provincial economy. But he insisted the alternatives were worse. Laughren said his budget would get Ontario's deficit down to 9.2-billion dollars in the fiscal year, down from the previous year's record deficit of 12-billion dollars.

Date: 1993-05-19
Placeline: TORONTO, Ontario.
Source: The Canadian Press
Length: 18 seconds

Transcript Prediction: << if we were to take another two billion dollars to expenditure reduction to me than what we've done so far is minimise job losses and they finish Productions we work very hard at that the the next level with another to do in wisc monthly expenditure reduction who would be enormous job losses >>

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