Ontario, and every other province needs to completely rethink its funding of universities. There are far too many programs which never led, or no longer lead to productive employment. I haven't studied how each university plans to respond to belt tightening, but in general, belt tightening is the direction that funding should be moving.
It's amazing to me (amazingly incompetent) that we apparently can't produce enough nurses to match turnover in the labour force, but universities never increase their nursing class sizes and the result is a ridiculous admission standard of 90+ grade averages but an application process that seems to do a poor job of projecting who will actually stick with the job when reality hits. On the other hand, often the most populous faculties at universities are Arts and Social Sciences, for which there is no longer any demand in the labour force.
If the universities could only successly teach one thing - what the word "investment" really means- perhaps they could begin to get their houses in order.
We could quibble over the details, but cutting back transfers to universities is a step in the right direction.