Ontario Budget Report 2016

February 25, 2016

“Jobs for Today and Tomorrow”

On February 25, 2016, the Honourable Charles Sousa presented his fifth budget as Minister of Finance. Continuing on its path to balance the budget in 2017-18, the government’s plan for economic growth and job creation focuses on four tenets — creating a more innovative and dynamic business climate, building modern infrastructure, supporting skills training, and providing income security in retirement.

The deficit anticipated for 2015-16 is $5.7 billion, which has decreased from the $8.5 billion deficit that was forecast last year. The deficit will continue to decrease, with a forecast of $4.3 billion for 2016-17 and a balanced budget for 2017-18.

Highlights

  • Deficit of $5.7 billion now forecast for 2015-16
  • Deficit of $4.3 billion projected for 2016-17
  • Balanced budget on target for 2017-18
  • Contributions to the Ontario Retirement Pension Plan deferred to 2018
Download the full budget report
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