On April 11, 2019, the Ontario government tabled its 2019-20 fiscal budget, “Protecting What Matters Most” that sets out a five-year path to a balanced budget. The budget anticipates deficits of $11.7 billion for 2018-19 and $10.3 billion for 2019-20, and projects a modest surplus in 2023-24.
According to budget documents, the government has already reduced the deficit by $3.3 billion, going from $15 billion to a projected $11.7 billion for the 2018-19 fiscal year. The government is planning to further reduce the deficit by $1.4 billion in the 2019-20 fiscal years, lowering it to $10.3 billion. The . . . [more]