Comment 119760

By Streeter (registered) | Posted August 02, 2016 at 10:10:29 in reply to Comment 119757

Ontario's share of the Canadian GDP has been falling rapidly since around 2000, which was before the Greenbelt Legislation was in place.

Meanwhile, Ontario GDP per capita has increased from $43,345 in 2005 ($2016) to $52,126 in 2014 ($2016). Canada's GDP is surely decreasing since 2013, but in 2005 it was $1169.36B in ($US2015) and is now 1550.54B in ($US2015). Interestingly enough, the GDP shape over those years pretty much mirrors oil prices...

I'm no economist but I would say the change in Ontario's GDP share, the rise and fall of manufacturing and the rise and fall of Canadian GDP have a lot more to do with oil prices and the Canadian dollar than with greenbelt legislation.

Also comparisons to all of Canada do not really relate to one provinces development related legislation, for example since 2005, Alberta has gone from a Assets to GDP % of 12.6% in 2005 to 1.2% 2015 and is projected to hit deficit this year. Quebec debt has increased from 2005 to now, BC has remained relatively flat, Saskatchewan has decreased (still deficit), Manitoba has increased, etc. And the increase in Ontario hit in 2009 which coincides with the recession, not the greenbelt legislation...

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