By Rosalind Russell – The province’s deficit is expected to grow to $16.9 billion dollars.
Finance Minister Peter Bethlenfalvy shared the news during his latest economic update in Queen’s Park yesterday.
It’s over $3 billion dollars more than what the deficit was predicted to be back in March.
Officials say Ontarians continue to face challenges from ongoing U.S trade actions, geopolitical instability and global economic uncertainty.
However, the Ford Government says their fiscal plan maintains flexibility to respond to changing conditions, while continuing to invest in the priorities that matter most to families and communities.
Citing the external factors, Ontario’s fiscal outlook projects to balance the books by 2029-2030.
NDP leader Marrit Stiles is calling the Fall Economic Statement quote – an admission of failure.
Photo: unsplash.com
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