Ontario: Budget 2019. The New Government Outlines Its Priorities

According to the Independent Financial Commission of Inquiry set up by the new government immediately after the election last June, the projected budget deficit for 2018–2019 was $15.0B, not $6.7B as stated in the previous government’s March 2018 budget. The fall update by the new Minister of Finance took a first step by reducing that deficit to $14.5B. The projections presented in today’s budget are counting on a deficit of $11.7B for the year ended March 31st, 2019, or $5.0B more than announced last year.