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The forecast by Ontarioâs Finance Ministry calls for the provincial population to grow by nearly 36 per cent over the next 25 years, to more than 20 million by July 2046 from 14.7 million last year.
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Southwestern Ontario, which as recently as the mid-1980s accounted for 14 per cent of the provinceâs population, is expected to grow to 2.22 million people from 1.72 million over that same period, but its share of the provincial population will fall to 11.1 per cent as faster-growing regions, especially the Greater Toronto Area (GTA), add millions more people over the next quarter-century.
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For decades, Alberta’s oil patch has provided billions in revenue for both the province and the federal government. But that fiscal gusher has slowed in recent years as energy prices sputtered – most dramatically in 2020, with the coronavirus and lockdowns around the globe deflating demand for fossil fuels.
There’s an immediate impact: profits evaporating, corporate taxes withering and royalty payments dwindling. Alberta feels that decline most acutely, as this week’s Tax and Spend examines. But there are longer-term dangers as well, highlighted by massive writedowns in the value of energy assets this week by both Imperial Oil Ltd. and Suncor Energy Inc. The companies haven’t explicitly linked their decisi