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Ontario budget

Ontario: Budget 2023 - Balancing the Books in Two Years... If the Economy Rebounds Strongly

March 23, 2023
Marc Desormeaux
Principal Economist

Ontario expects to balance the books in FY2025, three years ahead of the timeline presented in last year’s budget. Financial projections were helped by another starting point boost to revenues since the Fall Economic Statement, and expectations of strong economic gains following a slowdown in 2023. New tax measures were incremental to prior plans, but spending projections were raised versus the prior plan.