close

Ontario’s deficit plummeted 20% since spring

According to the government, Ontario’s deficit now stands at $7.4 billion, a sizable drop from the $11.7 which was published in the spring budget.

This article was published more than 1 year ago, information might not be accurate.

Ali Taghva Montreal, QC

Ontario received some better than expected news today. We’re less broke than projected!

According to the government, Ontario’s deficit now stands at $7.4 billion, a sizable drop from the $11.7 which was published in the spring budget.

The change in deficit size has been attributed to higher than expected revenues as a result of higher consumer spending as well as corporate revenues alongside a significant reduction in spending.

Ontario has led the nation alongside Quebec in jobs added in recent months.

While the overall financial situation appears to have improved, the government has stated that not all of the gains will be permanent, with the 2019-20 deficit still being projected to hit $10.3 billion.

While the deficit appears to be coming under control, it is important that Ontario continues to be rocked with some of the largest debt levels in the western world, with over $350 billion being owed by less than 15 million people.

Join us!

We’re independent and can’t be cancelled. The establishment media is increasingly dedicated to divisive cancel culture, corporate wokeism, and political correctness, all while covering up corruption from the corridors of power. The need for fact-based journalism and thoughtful analysis has never been greater. When you support The Post Millennial, you support freedom of the press at a time when it's under direct attack. Join the ranks of independent, free thinkers by supporting us today for as little as $1.

Thank You!

Support The Post Millennial
Accepted payment methods: Visa, Mastercard, American Express  and Paypal
Ali Taghva
0
Join The Discussion