Moody’s says Wynne’s spending is like a hole in the Dyke

Moody’s credit rating firm is the latest to urge the debt-ridden Ontario Liberal government to rein in spending.

Moody’s Investment Services’ report released Monday noted that Ontario’s debt burden has gone up every year since 2009 and compared that to Quebec where debt has remained stable.

“Given such high levels of planned spending, it is our expectation that there will be non-significant reductions in Ontario’s debt burden for the next five to 10 years,” said the report, which explained that Ontario’s borrowing is driven by infrastructure spending.