"It's one of the weaker partners, but again it's not so much Ontario's being weak as the other provinces are really roaring along."

The TD report said the booming oil and commodity revenues outside Ontario are raising the standard for what constitutes a wealthy or "have" province at the same time as Ontario's economy is in decline, widening the spread.

"It points out that at a time when there is a risk of Ontario becoming a have-not province, what does [Jim Flaherty] do? He says 'don't invest there.'... To say 'tough luck' to Ontario ... is a flagrant failure to exercise the responsibilities that we expect of a federal government."