The Ford Government now projecting a deficit of $32.4-billion in 2021-22.
ONTARIO - The Ford Government has released it's first fiscal update since the 2021 Budget.
Finance Minister Peter Bethlenfalvy released Ontario’s 2021-22 First Quarter Finances this morning.
He's projecting a deficit of $32.4-billion in 2021-22, a improvement of almost $700-million compared to outlook in the 2021 Budget.
Bethlenfalvy says this is all thanks to prudent financial management and a stronger growth forecast for 2021.
“We’ve always been clear that it would be growth that would fuel our return to a more sustainable fiscal position. The continued growth in employment and the modest deficit improvement projected in the 2021–22 First Quarter Finances are evidence that our plan is working. But we will maintain our focus on the plan outlined in the 2021 Budget to get us through this crisis.”
Due to the uncertainty of the pandemic, especially in regards to the variants of concern, Bethlenfalvy says the province is also going to set aside $2.2 billion of this revenue for the Time-Limited COVID-19 Fund.
“Our flexible approach has served Ontario well throughout the pandemic. It will continue to ensure a lack of resources is never an obstacle in the Province’s response to COVID-19.”
The Ford Government will deliver it's next fiscal update on November 15th, 2021.
Teenage Driver Charged with Impaired
Thistle Theatre Presents: The Perils of Persephone
CO Awareness Week Underway
Strong Winds Expected for Oxford
Federal Liberals Table Budget
TDMH Celebrates a Year of the RAFT
News Poll: Poppy Campaign Underway
SWPH Confirms Case of Influenza A
Public Input Needed for Woodstock Transit
Interview with the Mayor - November 3rd, 2025
PJHL Recap - Oct 31st to Nov 2nd
Nominations Open for Runway of Stars
Ultimate Burger Battle Begins!
Dodgers Beat Blue Jays in World Series
Impaired Driver Caught in Tillsonburg
Norfolk OPP Investigating Break-and-Enter
PJHL Preview - Oct. 31st to Nov. 2nd
BBBS Volunteers Honoured in London
Poppy Campaign Begins Today
Comments
Add a comment