15-05-2025
Ontario budget forecasts $14.6B deficit, slower growth in wake of U.S. tariffs
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Much of the increased pressure comes from about $30 billion in spending to stimulate the economy in the face of tariffs, including a $5-billion fund to give businesses relief, adding $5 billion to an infrastructure financing fund, and implementing a new, $500-million Critical Minerals Processing Fund.
As well, the government is planning to add $1 billion to its Skills Development Fund to retrain workers, add $600 million to a fund that helps businesses set up or expand in Ontario, $200 million for a shipbuilding grant program and create a $50-million fund to help businesses make new supply chains and help boost interprovincial trade.
But for all of the various funds for businesses, opposition leaders said there is very little in the budget for people and their most pressing needs, such as housing and health care.
'This budget talks a lot about cars and infrastructure,' Green Party Leader Mike Schreiner said. 'It doesn't talk a lot about actually investing in people.'
