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Ontario 2023 Budget

The PC's released the 2023 budget this afternoon with a $2.2 billion deficit. 

ONTARIO - The provincial government is announcing a massively reduced projected budget.  

The PC's released the 2023 budget this afternoon with a $2.2 billion deficit. 

This figure is almost $18 billion less than the 2022 budget predicted. Additionally, the government says the provinces real GDP is rising and expects that to continue over the next 3 years. 

Ontario's Finance Minister made reference to Woodstock and Oxford County in his speech for its contribution to the auto industry. 

"Keep on the 401 until you get to Woodstock. A proud auto town where Toyota has invested $1.4 billion to make vehicles, including hybrids. Keep going west on the 401 until you get to Ingersoll, where GM has built Canadas first full-scale EV manufacturing plant."  

The NDP has criticized Ford and the budget for not providing what they feel is enough support to Ontarians still struggling through inflation. 

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