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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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Ontario Budget Projects $13.8B Deficit, Postpones Balanced Budget Timeline
Ontario is forecasting a $13.8 billion deficit for the coming fiscal year and and has pushed back its timeline to balance the budget to 2028-2029. This marks an increase from the projected deficit of $7.8 billion for the 2026-27 period that was outlined in last year’s budget. Finance Minister Peter Bethlenfalvy attributed the heightened spending to “significant change in the world around us” as he presented the budget on March 26. “Geopolitical …
·New York, United States
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Coverage Details
Total News Sources31
Leaning Left17Leaning Right4Center5Last UpdatedBias Distribution66% Left
Bias Distribution
- 66% of the sources lean Left
66% Left
L 66%
C 19%
15%
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