Finance Minister Peter Bethlenfalvy the province will have a surplus by 2025
The province says it's on track to balancing the budget by 2025.
Finance Minister Peter Bethlenfalvy released the province's budget today, which includes an emphasis on support for industry.
Highlights of the budget include the new Ontario Made Manufacturing Investment Tax Credit, which provides a ten percent credit for manufacturers.
It also includes over $20 billion in highway, hospital and transit projects, more than half a billion in home care, and $72 million to expand publicly funded procedures at private clinics.
As well, the plan includes proposed changes to expand the Guaranteed Annual Income System program and an additional $202 million each year in the Homelessness Prevention Program and Indigenous Supportive Housing Program.
The budget suggests Ontario will run a $1.3 billion deficit before eking out a surplus of $200 million in 2024-25, and a $4.4 billion surplus the following year.
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