The Ontario government will table its 2021-2022 budget on Wednesday, seeking to change the channel on a persistent coronavirus pandemic that has eviscerated jobs and forced deficit spending of up to $100 billion over the next three years.
Both the government and an independent watchdog pegged the 2020-2021 deficit at $38.5 billion as recently as earlier this month.
Last year’s document called for as much as $100 billion in deficit spending over the next three years, all but evaporating Premier Doug Ford’s earlier pledge to return to balanced books sometime in a second mandate.
On Monday, Finance Minister Peter Bethlenfalvy said the budget would “will focus on protecting people’s health, and supporting people and job creators who are continuing to struggle during these tough times.”
The 2020 budget included significant spending on healthcare, as well as continued reductions in business taxes and an expansion of industrial electricity subsidies.
The document will be public shortly after 4 p.m. on Wednesday.