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Ontario budget to be 'prudent and responsible': finance minister

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It's budget day in Ontario, and the finance minister is set to present his plan to bolster the economy ahead of an expected slowdown, while also trying to ease the rising cost of living

TORONTO — It's budget day in Ontario, and the finance minister is set to present his plan to bolster the economy ahead of an expected slowdown, while also trying to ease the rising cost of living.

Ford has said the fiscal plan will be "balanced, per se," though he was not necessarily referring to whether the province would still run a deficit. Last year's budget had the province eyeing a surplus for this upcoming fiscal year, but Bethlenfalvy's fall economic update pegged the 2024-25 deficit at $5.3 billion and projected a balanced budget the following year. He has not indicated if his path to balance will remain the same.

Desjardins principal economist Marc Desormeaux says Desjardins and others are forecasting an economic slowdown, but Ontario should be able to weather the storm.

 

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