Ontario projects $14.6-billion deficit in budget as it wrestles with U.S. tariffs

The Ontario government is forecasting a deficit almost ten times larger than it predicted last fall for the coming fiscal year − at $14.6-billion − as the province wrestles with the impact of U.S. tariffs.In its budget introduced on Thursday, the province blew away its previous estimate of a $1.5-billion deficit for 2025-26 from last November, which was based on economic projections predating U.S. President Donald Trump‘s trade war.