Finance Minister says Ontario’s deficit sits at $10.9 billion
Posted Mar 31, 2015 01:01:47 PM.
This article is more than 5 years old.
Ontario’s finance minister says the province’s deficit is $10.9 billion, lower than the previously projected $12.5 billion.
Charles Sousa made the announcement today during a pre-budget speech to the Toronto Region Board of Trade.
Sousa has said a provincial budget will be tabled this spring, but has not yet announced a date for it.
The Liberal government last year announced a projected deficit of $12.5 billion for 2014-15 as it attempts to balance the books by 2017-18.
Various analysts and credit rating agencies have expressed skepticism that Ontario can eliminate the deficit by then, but Sousa insists it can be achieved.
Sousa says the path to balance is through finding savings in government programs, managing compensation costs and “maintaining” revenue.
