Source Feed: The Globe and Mail
Author: Jeff Gray, Laura Stone
Publication Date: May 15, 2025 - 16:03
Ontario projects $14.6-billion deficit in budget as it wrestles with U.S. tariffs
May 15, 2025
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.
Unpublished Newswire
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