Within a framework attempting to be at once idealistic and fiscally responsible, this paper assesses the effect of declining enrollment in Ontario on professional development and presents a comprehensive proposal that includes a flexible working model. The study is based on personal experience combined with a thorough search of the current literature. An analysis of the objections to professional activity days brings the author to the conclusion that the present system is not cost effective. He suggests several changes in number and emphasis of such days. The author also identifies 40 areas in which inservice training is essential and reviews the approaches to inservice education in several different countries. Finally, he proposes initiation of a comprehensive professional development plan to be funded jointly by the ministry of education and teachers. This plan entails greater participation by teacher preparation institutes and a liberal leave of absence policy that would permit more teachers to work in a period of declining enrollment. (Author/WD)