Ontario is projecting a $9.8-billion-dollar budget deficit for the coming fiscal year. The deficit for 2024-25 is almost double what the province projected in the fall economic update, and a return to surplus is not expected until 2026.
Finance Minister Peter Bethlenfalvy acknowledged the challenging economic times as he tabled a provincial budget on Tuesday that contains few new affordability measures.
New money in the budget includes an additional two-billion dollars over three years for home and community care, a 200-million-dollar community sport and recreation infrastructure fund, and more money for autism therapies.
(The Canadian Press)
