Ontario to table 2024 budget without tax increases on March 26
The Ontario government will table its 2024 budget at the end of the month.
Finance Minister Peter Bethlenfalvy announced Thursday the province’s next budget will be presented on March 26.
Speaking with CTV News Toronto, the minister said the new budget will “continue on the track to rebuild the economy.”
“Every budget is really focussed on helping people and businesses and families. So you can expect that we’ll continue to focus on that track that we've had in every budget that I've tabled.”
- Download our app to get local alerts on your device
- Get the latest local updates right to your inbox
Bethlenfalvy said the budget will focus on investing in infrastructure and keeping life affordable. All of this will be done, he said, without raising taxes and fees.
In February, Bethlenfalvy projected Ontario would end the year with a $4.5 billion deficit, which is a little over $1 billion higher than what was estimated during the fall economic statement.
The province’s failed legal appeal of Bill 124 has resulted in some overspending, according to Ontario’s financial accountability office, which could be contributing to the higher deficit. Their office has suggested it could cost the government over $13 billion.
The Ford government’s 2023 budget was the largest in the province’s history, standing at about $204.7 billion. At the time, the government said it was on track to balancing the budget by 2025. It’s unclear if this is still the case.
In the province’s fall economic statement, the Doug Ford government pledged to invest an additional $3 billion in a new “infrastructure bank” to help spur community development. Little information has been released about the new bank since it was first announced.
With file from CTV News' Queen's Park Bureau Chief Siobhan Morris
CTVNews.ca Top Stories
4th Indian national arrested, charged with murder of Hardeep Singh Nijjar
Homicide investigators in B.C. say murder charges have been laid against a fourth Indian national in connection to the killing of Sikh activist Hardeep Singh Nijjar outside a Surrey gurdwara last year.
'I am angry': Alberta farmers will continue fight over world class motorsport resort
The rolling hills leading to the hamlet of Rosebud are dotted with sprawling farms and cattle pastures -- and a sign sporting a simple message: No Race Track.
Man ticketed after allegedly trespassing again at Drake's Bridle Path mansion to get his bike
A man who tried to access Drake’s Bridle Path mansion earlier this week returned to the property Saturday and was apprehended again for allegedly trespassing, Toronto police say.
Couple randomly attacked, 1 stabbed, by group of teens in Toronto, police say
A man has been transported to hospital after police say he was stabbed in a random attack carried out by a group of teens in Toronto on Friday night.
Millions of Canadians have been exposed to potentially toxic chemicals, and they're not going anywhere
For decades, North Bay, Ontario's water supply has harboured chemicals associated with liver and developmental issues, cancer and complications with pregnancy. It's far from the only city with that problem.
Biden calls Trump 'unhinged,' says 'something snapped' in former president after he lost 2020 U.S. election
U.S. President Joe Biden on Saturday called Donald Trump “clearly unhinged” and claimed that “something snapped” in the former president after he lost the 2020 election.
Wildfire that forced evacuation of Fort Nelson, B.C., caused by tree falling on wires, mayor says
The wildfire that prompted the evacuation of more than 3,000 people near Fort Nelson, B.C., was caused by a tree falling on wires, according to the municipality's mayor.
Switzerland's Nemo wins 68th Eurovision Song Contest
Swiss singer Nemo won the 68th Eurovision Song Contest on Saturday night with 'The Code,' an operatic ode to the singer’s journey toward embracing their nongender identity.
IN PICTURES Northern lights dance across the night sky in southern Ont.
From London, to Grand Bend, Collingwood and Guelph, here are some highlights of Friday night and Saturday morning's northern lights display.