Ontario plans to start posting budget surpluses in a year, leaning heavily on booming revenues to outweigh increased spending on health care – which includes boosts to hospitals, home care and the medical workforce.
Finance Minister Peter Bethlenfalvy says his plan shows that it is possible to balance the budget while still investing in areas such as health care, housing and highways.
His budget shows that in the fiscal year starting next month, Ontario expects to run a $1.3-billion deficit, before eking out a small surplus of $200 million in 2024-25, followed by a $4.4-billion surplus the following fiscal year. Finance officials say that progression is partly due to increasing revenues – Ontario expects to end this year with about $200 billion in revenue, more than $20 billion higher than it projected at this time last year – thanks to higher-than-expected levels of inflation and economic recovery.
On the expense side of the ledger, Ontario continues its infrastructure-heavy plans with more than $20 billion in highway, hospital and transit projects, while adding health spending such as more than half a billion in home care, $72 million to expand publicly funded procedures at private clinics and $80 million over three years to increase post-secondary nursing program enrolment.
There are few new affordability measures in the budget, but the government is expanding the Guaranteed Annual Income System, which provides payments to low-income seniors.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Amid cooling inflation, the BoC should be 'comfortable' regarding its decisions: Economist - BNN BloombergFollowing the release of Canada’s latest inflation data, one economist said he thinks the Bank of Canada should be comfortable with its actions thus far as it attempts to restore price stability.
Lire la suite »
GameStop surges after reporting first profit in two years - BNN BloombergGameStop Corp. swung to a surprise profit in the fourth quarter and beat analysts’ estimates for revenue, sending the shares soaring 36 per cent extended trading.
Lire la suite »
Quebec cuts taxes, slows debt repayment as economy stalls - BNN BloombergQuebec, Canada’s second-largest province, is cutting income taxes and reducing the amount it’s socking away in a debt-repayment fund as it braces for a period of slow growth and economic uncertainty.
Lire la suite »
Nike sales outpace estimates as it trims inventory level - BNN BloombergNike Inc. reported robust quarterly sales that beat Wall Street’s expectations as the sportswear brand worked down its excess inventory, but profitability missed estimates.
Lire la suite »
Christine Poole's Top Picks: March 21, 2023 - BNN BloombergTopPicks from Christine Poole, CEO and managing director, GlobeInvest Capital Management
Lire la suite »
BlackBerry sells 32,000 mobile, wireless patents for up to US$900M - BNN BloombergBlackBerry Ltd. said Tuesday it is selling a sizable portion of patents tied to the company’s former smartphone business to Malikie Innovations Ltd. in a deal worth as much as US$900 million after a firm tied to a prior sale failed to secure financing.
Lire la suite »