TORONTO - Premier Dalton McGuinty won't say whether Ontario will avoid a structural deficit that would keep the province in the red even as its troubled economy starts to recover.
He says it's hard to tell how long it will be before Ontario emerges from a deep recession, with estimates ranging from six months to a year and a half.
McGuinty says he's prepared to run a deficit that's "as high as necessary" to help Ontario today, but not so high that it will hurt the province tomorrow.
Speaking to a business audience today, McGuinty said Ontario needs to prepare itself for the "post-recession" era by making major changes, such as shifting the province towards renewable energy.
McGuinty said his government would introduce legislation to do just that, but provided almost no details about the plan.
He says the Green Energy Act will be unveiled after the provincial legislature resumes in mid-February.
The premier warned Monday that Ontario would have "multi-year" deficits starting with the upcoming spring budget.
