Ontario Budget 2018
The Conference Board of Canada,
March 28, 2018
Budget 2018 contains some big-ticket spending initiatives, aimed at improving affordability for families. However, these new initiatives come with a substantial price tag. While socially admirable, the plan is fiscally risky.
- Ontario will have a balanced budget, but only briefly.
- Spending will increase across nearly every category, with large hikes in the big three areas of health care, education, and social services.
- These new spending commitments will increase program spending growth between 2018–19 and 2020–21. With revenues growing more slowly over the same period, the province will remain in deficit throughout the forecast period.
- To lessen the impact of revenue decreases, the province made some minor changes to personal income taxes and small business taxes.