The Canadian Press

2015-07-21 | Health Costs Provinces

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A new report is warning that the net debt of the country's provinces, territories and municipalities is on an unsustainable path with health spending set to accelerate along with the aging population. Canadian Press reporter Terry Pedwell says the dire prediction comes from the parliamentary budget office. (The federal budget watchdog says by contrast, Ottawa's books are on a sustainable path and that its net debt is set to be eliminated in 35 years. The annual report comes out less than a week after Canada's premiers urged Ottawa to boost federal health-care funding so that it covers at least 25 per cent of all health spending by the provinces and territories.)

Date: 2015-07-21
Placeline: OTTAWA.
Source: The Canadian Press
Length: 26 seconds

Transcript Prediction: << the PPO estimates the net debt of sub-national governments in this country will climb above 200% of the gross domestic product in 75 years unless steps are taken to ease the burden the offices latest report says the provinces territories and cities can get back on a sustainable trajectory by adding a total of 28 billion dollars to their bottom lines this year through option such as hired Federal transfers reduce program spending or increased revenues >>


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