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Ontario deficit nearly doubles as province tables $244.2 billion budget in face of ‘unpredictable economic shocks’

Ontario's 2026-27 budget raises health and infrastructure spending, cuts small-business tax rate, and delays balance until 2028-29 amid rising deficit and economic uncertainty.

  • The Ontario government tabled a budget projecting a $13.8 billion deficit for 2026-27, up from the previously forecast $7.8 billion.
  • The budget proposes cutting the small business corporate income tax rate from 3.2% to 2.2% and allocates over $1.1 billion in new funding for hospitals.
  • It also provides $1.1 billion over three years to expand home and community health-care services and $186 million in new funding for the Ontario Autism Program.
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Globe NewswireGlobe Newswire
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Ontario budget continues to leave students, faculty, and campus workers behind

Toronto, March 27, 2026 (GLOBE NEWSWIRE) -- Ontario’s 2026 Provincial Budget fails to provide adequate funding for the postsecondary sector, despite the...

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Winnipeg Free Press broke the news in Winnipeg, Canada on Thursday, March 26, 2026.
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