Ontario Finance Minister Peter Bethlenfalvy delivers the Ontario budget as Premier Doug Ford looks on at the Queen’s Park Legislature in Toronto, on Thursday, May 15, 2025. THE CANADIAN PRESS/Chris Young
Ontario Finance Minister Peter Bethlenfalvy delivers the Ontario budget as Premier Doug Ford looks on at the Queen’s Park Legislature in Toronto, on Thursday, May 15, 2025. THE CANADIAN PRESS/Chris Young
TORONTO – Ontario Finance Minister Peter Bethlenfalvy is set to table a fall fiscal update today, with a look at how the province’s books are faring amid the impacts of U.S. tariffs.
The government projected earlier this year in its first quarter finances that the province would have a $14.6-billion deficit this year.
But Bethlenfalvy also said in a recent speech that Ontario has a “strong fiscal foundation,” with lower costs of interest on debt giving the province more room to spend on infrastructure, tax relief and the skilled workforce.
Bethlenfalvy says the fall economic statement will have an update on what Ontario has been doing to shore up the province’s economy in the face of tariffs, including multi-billion-dollar funds to give businesses supports and tax deferrals.
Bethlenfalvy has already made a few pre-fall economic statement announcements, including an HST rebate for some first-time homebuyers and $1.1 billion for home care.
As well, changes to election rules including scrapping fixed election dates and raising the political donation limit to $5,000 are set to be in the economic statement bill.
This report by The Canadian Press was first published Nov. 6, 2025.
The Canadian Press. All rights reserved.
It’s a little-known fact that Canada’s credit unions are among the country’s stron…
The Canadian Press is a member of the International Fact-Checking Network
Your browser is out of date and potentially vulnerable to security risks.
We recommend switching to one of the following browsers:
Sorry, an error occurred.
Already Subscribed!
Cancel anytime
Account processing issue – the email address may already exist
The Atlantic News Today newsletter keeps you updated on the latest stories from Eastern Canada . It is sent from Monday to Friday.
Top News Today newsletter delivers the day’s essential stories from the Maritimes and top national headlines, directly to your inbox every day of the week.
Thank you .
Your account has been registered, and you are now logged in.
Check your email for details.
Invalid password or account does not exist
Submitting this form below will send a message to your email with a link to change your password.
An email message containing instructions on how to reset your password has been sent to the email address listed on your account.
No promotional rates found.
Secure & Encrypted
Secure transaction. Secure transaction. Cancel anytime.
Thank you.
Your gift purchase was successful! Your purchase was successful, and you are now logged in.
A receipt was sent to your email.