The Investment Dealers Association of Canada says that with the new spending commitments contained in Ontario’s 2005 budget, it will take longer than originally planned to get the budget back to balance.

Although the IDA says it is pleased there are no new taxes or levies, it regrets that the return to fiscal health for the province will be delayed. “Strengthened finances are needed to give the province flexibility to act on important priorities such as much needed tax competitiveness,” stated Ian Russell, senior vp, in a release..

The IDA says it supports the province’s decision to encourage Ontario’s public and private pensions to participate in infrastructure financings. It adds that pensions represent a significant pool of funds that could speed completion of infrastructure projects and alleviate some of the pressure on public finances.

The association also welcomes Ontario’s decision to consider asset sales to support infrastructure financing.

The IDA applauds the the province for moving forward on enactment of the Uniform Securities Transfer Act. It says the Canadian capital markets need the modern legal foundation this act provides.