Ontario continues to outperform deficit projections and is on track to a balanced budget by 2017-18.
At $10.9 billion, the projected deficit figure is $1.6 billion below the target of $12.5 billion. The lower deficit numbers confirm that the government is on track to implement its plan which is focused on prudent fiscal management, while continuing to invest in key areas like infrastructure.
Ontario is investing more than $130 billion in public infrastructure over 10 years and is looking at ways to unlock the value of provincial assets to help finance public infrastructure priorities across the province and help foster economic growth.
The province has now recovered all the jobs lost during the recession and added more than 500,000 net new jobs since the recessionary low in June 2009 — the majority in industries paying above-average wages.
Strong fiscal management and unlocking the value of provincial assets are part of the government’s economic plan for Ontario. The four-part plan is building Ontario up by investing in people’s talents and skills, building new public infrastructure like roads and transit, creating a dynamic and supportive environment where business thrives and building a secure savings plan so everyone can afford to retir