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.

Interview with the Warden - September 10th, 2026
Fatal Collision Forces Road Closure in East Zorra-Tavistock
Delhi Driver Charged in Malahide Township
Witaar Releases Numbers for August
South Gate Centre Hosting Golf Tournament
Brant OPP Seek To Identify Instacart Shopper
Blandford-Blenheim Candidate Profile - Richard Kohman
OPP Release Labour Day Results
September is Big Brothers Big Sisters Month
Suspicious Fire in Paris Under Investigation
Reuseapalooza-ha Returns to Oxford County
Toddler Found Safe After Going Missing
Tillsonburg Candidate Profile - Stephen Molnar
Safety is Paramount as School Returns
Parkinson's Walk Returns to Oxford County
Navy Vets Win Memorial Tournament
Stolen Motorcycles Recovered by Woodstock Police
Blandford-Blenheim Candidate Profile - Crystal Wymenga
Last Call for Road Safety Survey!
Possible Tornado in Tavistock
Comments
Add a comment