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Ontario, Canada's most populous province, forecast on Wednesday its budget deficit would narrow in the upcoming fiscal year and return to balance in 2029-30 as the economy rebounds from the ...
Albanese also had input in ways to better address the underground economy in Ontario across sectors. [20] [21] Albanese also held yearly pre-budget consultation town halls (both in-person and virtual town halls) across the province and in her local riding of York South-Weston. [22]
The Great Recession of 2008 had a considerable impact on Ontario, particularly its manufacturing sector [citation needed]. Ontario's budget surplus in 2007-2008 had by 2009-2010 given way to a $19 billion deficit. [30] Ontario government's direct subsidies to corporations average $2.7 billion per year over the five years to 2011. [31]
The budget is announced in the House of Commons by the Minister of Finance, who traditionally wears new shoes while doing so. [1] The Budget is then voted on by the House of Commons. Budgets are a confidence measure, and if the House votes against it the government can fall, as happened to Prime Minister Joe Clark 's government in 1980.
The Ministry of Finance is a ministry of the Government of Ontario responsible for managing the province's fiscal policy, developing the provincial budget, and financial sector regulation. The minister of finance – called the treasurer before 1993 – leads the ministry and is responsible to the Legislative Assembly of Ontario.
The first reading of the budget bill was presented to the Legislative Assembly of Ontario by Ontario Liberal Party representative Charles Sousa on 2 May 2013. [1] The CA$127 billion budget was designed to sufficiently appeal to Members of Provincial Parliament (MPPs) of the Ontario New Democratic Party (NDP), whose support the Liberal minority government needed in order for the bill to pass. [2]
141 Laurier Ave. West, Ottawa, Ontario ... an alternative federal budget on an annual basis. ... by field experts and reviewed in consultation with other researchers ...
While Doug Ford promised a balanced budget in 2018, the Ontario debt has increased by $86 billion since Ford took office as of December 2024. [112] This is an increase much greater than his predecessor's, whose budget Ford criticized. [ 86 ]