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

MURC: Coming Soon to Ingersoll!
Candidate Information Session Coming Up
EZT Remembers Former Ward 3 Councillor
SWPH Issues Cold Weather Alert
UPDATE: Strong Winds Continue this Morning
Woodstock Resident Charged with Speeding
Interview with the Mayor - March 16th, 2026
Woodstock Driver Charged in Brant County
PJHL Playoff Recap - March 13th to March 15th
March Break Safety Tips from Oxford OPP
Oxford-Elgin Rainbow Research Project Underway
Death Investigation in Woodstock
OPP: Plan Ahead Before St. Paddy's Day Festivities
Another Friday the 13th in Port Dover Today
Hansen Parents Visit Artemis II Explorers Club at IDCI
East Oxford Parents Respond to AARC Announcement
Strong Winds Expected in Oxford
WPS Charge Two in Firearms Incident
Food Rescue Hub Receives $50,000
Interview with the Warden - March 12th, 2026
Comments
Add a comment