Yesterday, Ontario's Minister of Finance, Peter Bethlenfalvy, tabled Ontario’s 2023 Budget titled ‘Building a Strong Ontario,’ detailing new investments and continued spending for 2023-2024.
With $204.7B in spending, this is Ontario’s largest Budget to date, which projects a return to balanced budget by the next fiscal year, ahead of previous projections. The Budget forecasts a potential $200M surplus in 2024-2025, which could potentially increase to $4.4B in the following fiscal year. For this year, the province is expecting a $1.3B deficit.
