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Ford pledges Ontario budget with infrastructure spending, not cuts, to battle U.S. tariffs

  • Ontario's Ford government projected a $14.6 billion deficit for the 2025-26 fiscal year amid ongoing economic challenges and U.S. Tariffs.
  • The deficit increase stemmed mainly from U.S. President Trump's tariffs and a $6 billion shortfall predicted for 2024-25, which was $10 billion larger than anticipated.
  • To support Ontario businesses, the government rolled out a substantial $11 billion relief initiative that includes tax deferrals, WSIB rebates, and enhanced funding for skills development.
  • Finance Minister Bethlenfalvy noted the deficit rose from $4.6 billion to $14.6 billion, while spending on health care increased to $91.1 billion, a 2% rise from the previous year.
  • The government plans sustained infrastructure investment and business support to bolster the economy, aiming to reduce the deficit to $7.8 billion by 2026-27 and achieve a small surplus in 2027-28.
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1059theregion.com broke the news in on Wednesday, May 14, 2025.
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