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The entire ttytttttlltt needs rttitlttiig Continued from page t8 the aforementioned downward trend continues. Ontario would be placed in have-not status by contend with the relative use of the Canadian approximately 2010. A contend with the relative rise of the Canadian dollar and a negative impisct on exports. - .. The decliner Ontarib's status is more indica- tive of thriving commodity-based economies than slow downs in the manufacturing sector. Ontario‘s gross domestic product (GDP) per capita increased by three per cent annually dur- ing the 2002-2007 period, which is generally ade- quate growth. However, Canada's four western provinces produced annual rates of 5.8 per cent during that time frame, which are representative of signifi- cant expansion. In a rather bizarre scenario that may develop, Ontario could be receiving equalization pay- ments from federal revenue it essentially gener- ates. In 2005, the province contributed approxi- mately S21 billion more to Ottawa than the amount returned in federal spending. Furthermore, Newfoundland and labrador produced double-digit annual increases in GDP per capita from offshore oil actiyity in 20922907. This potential development has led Ontario politicians to argue that current equalization arrangements are broken and require major repairs. As a warning for future developments, in 2005 the Ontario Chamber of Commerce released Fair- ness in Confederation. a report which extensively documented the fiscal imbalance between Ontario and Ottawa. At that time three years ago, it was projected that Ontario was headed for have-not status based upon a provincial per capita income that was 12 per cent above the national average in 1990 and subsequently deflated to five per cent in 2003. Furthermore, the report's authors noted that if A "The Fairnéss to Confederation report empha- sized that the magnitude of the fiscal gap is nega' tively impacting pmvinpial TTpetitiveness _ However, a scenario where payments back to the province are supported through an on-going imbalance provides a rather distorted view of iis, cal federalism. Also, Ontario Chamber of Commerce presi- dent [Jen Crispino recently noted that while busil nesses advocate more tax cuts, they also generally support the provincial position on reforming transfer payments and securing an improved tis. cal arrangement for Ontario. The entire system needs an immediate review and revision. The nation of Ontario as a prospective have- not province is alarming. - - _ Todd Lens is president and CEO and Art Sinclair is director of economic development for the Greater Kitchener Waterloo Chamber of Commerce, Ontario's largest accredited Chamber of Commerce. Wll bring your store to 32,000 doors. whrrtjiitji'jri')istiiijiita, I From clinical practice and teaching, to research, administration and policy. Many career possibilities await you in nursing. . Nurses represent the single largest group of health professionals in Ontario.They have the knowledge, skills and compassion to help people stay healthy, and care for them when they're sick. Nursing. A world of possibilities. Make a difference. Make nursing your profession. For more information. visit www.rnao.org or www.mnao.org urn": haw- ..m a on». REGISYEIED RACV‘CAA muses .nwxgrmm " up”... Assocumon CV 0’0qu WATERLOO CHIONICLE . Wednesday‘ my It, m . " Ontario