TORONTO

Ontario Premier Kathleen Wynne has emerged near the bottom in a Fraser Institute ranking of premiers based on fiscal prowess.

The report, Measuring the Fiscal Performance of Canada's Premiers, obtained by Sun Media, says Wynne earned an overall score of just 39.5 out of 100 on government spending, taxes and deficits/debt.

"Sound fiscal policy means prudent government spending, balanced budgets and a tax burden that isn't so heavy it becomes a disincentive for people to work hard, save, invest and be entrepreneurial," Charles Lammam, Fraser Institute's associate director and study co-author, said in a statement.

The report compares 10 of the country's past and current premiers on their economic performance.

Former Newfoundland premier Kathy Dunderdale scored highest as the most fiscally-sound manager, and PEI's Robert Ghiz brought up the rear as the worst fiscal manager.

Saskatchewan Premier Brad Wall was ranked second highest, followed by B.C. Premier Christie Clark, while Wynne landed in eighth place ahead only of former Nova Scotia premier Darrell Dexter, who was defeated in a 2013 election, and Ghiz, who has announced his resignation.

Wynne ranked sixth out of 10 on government spending, fifth on taxes in general, third on corporate income taxes, seventh on personal income tax and bottomed out as dead last in deficits and debt, according to the Fraser Institute which favours lower taxes.

"Specifically, Wynne ran the largest deficit at 1.5% of GDP," the report says.

Ontario is scheduled to spend $12.5 billion more than it takes in this year--the largest in the country -- and is on pace to have accumulated an overall debt of $325 billion by the time the books are balanced as promised in 2017/18.

Fraser Institute says the rankings are intended to help Canadians hold politicians to account for their fiscal policies.

"Premiers who fare well should be commended, while those lagging behind should use the performance of others as a model for reform," the report says. "Regardless of where they ranked, all premiers, even those with high rankings, have room for improvement." The report noted that many of the current premiers are struggling with records of high government spending and debt left behind by their predecessors.

Fraser ranked premiers based on how well or poorly they performed relative to their counterparts.

Ontario Liberals have said the province's finances took a big hit as a result of the worldwide economic crisis of 2008-09, and that it has the leanest government in the country based on per capita government spending.

HOW THEY RANKED

Fraser Institute Rankings of 10 Current and Past Premiers (from best to worst):

* 1. Kathy Dunderdale, Newfoundland

* 2. Brad Wall, Saskatchewan

* 3. Christie Clark, British Columbia

* 4. Greg Selinger, Manitoba

* 5. David Alward, New Brunswick

* 6. Alison Redford, Alberta

* 7. Pauline Marois, Quebec

* 8. Kathleen Wynne, Ontario

* 9. Darrell Dexter, Nova Scotia

* 10. Robert Ghiz, Prince Edward Island