Ontario Budget 2017
The Conference Board of Canada,
April 27, 2017
After nine years of running deficits, the Ontario government is on the verge of balancing its books. This briefing looks at how it managed to eliminate its deficit and what it was able to provide in the way of new spending.
- The Ontario government will balance its books this fiscal year for the first time since 2007–08.
- Thanks to solid economic growth, government revenues are coming in significantly higher in 2017–18 than had been forecast in last year’s budget.
- With a windfall in revenues, the province was able to announce some new spending measures, especially for health care and education.
- While new spending increases mark a reprieve in program restraint, it is only temporary. Beyond 2017–18, the province will still need to keep a tight rein on spending, especially as population aging drives up costs.