The return to surplus is not expected until 2026.
ONTARIO - The Ford Government has unveiled the provincial budget and it includes a deficit of $3.0 billion for the 2023-2024 fiscal year.
It also includes a $9.8 billion deficit for 2024-2025, a $4.6 billion deficit for 2025–2026, and a surplus of $0.5 billion for 2026–2027.
Finance Minister Peter Bethlenfalvy released the budget in Queens Park yesterday.
"In the face of global economic uncertainty and high-interest rates that continue to put pressure on Ontario families, our government is taking a responsible approach by investing to rebuild Ontario’s economy without raising taxes. As we invest in key public services and infrastructure, including new roads, highways, and the largest public transit expansion in North America, we refuse to offload the costs onto hardworking Ontario families or municipalities at a time when they’re counting on us to keep costs down."
The items in yesterday's budget include an additional $2 billion for home and community care over three years, a $200 million community sport and recreation infrastructure fund, a $100 million investment for the Skills Development Fund Training Stream this year, and an investment of $152 million over the next three years to support various housing initiatives for vulnerable people.
The province is also extending the 5.7 per litre cut to the gas tax until the end of 2024. It was due to expire in June.
Our government has released the 2024 Ontario Budget: Building a Better Ontario, a plan to rebuild Ontario’s economy and keep costs down while taking a responsible approach to the province’s finances.
— Peter Bethlenfalvy (@PBethlenfalvy) March 26, 2024
Learn more about what’s in #ONBudget2024: https://t.co/lm6u8eKWki pic.twitter.com/v6TMiUZatr

3rd Annual Running with the Bulls Shines
Mischief in Tillsonburg is Under Investigation
Upgrades Completed for Woodstock Disc Golf Course
OPP Enforcement for Civic Holiday Weekend
Woodstock Candidate Profile - Anthony Scalisi
Drug Trafficking Investigation Leads to Charges
EZT Candidate Profile - Don Chowan
Oxford County Requesting Public Input
Norwich Man Charged in Brant County
SPWH Wants You to Know Drinking Risks
Charges Laid after Truck Hits Bridge
Ingersoll Candidate Profile - Mike Tucker
Motorcyclist Killed in Oxford Collision
Tip Tuesday with the Oxford OPP - July 2026
Oxford OPP Briefs - July 28th, 2026
Cat Thrown from Vehicle in Norfolk County
Environment Canada Issues Yellow Watch for Thunderstorms
Oxford Mosquito Traps Tests Positive for West Nile
Woodstock Candidate Profile - Sandeep Sidhu
Comments
Add a comment