Ford government signals deficits will continue

Ontario Finance Minister Peter Bethlenfalvy says the province is likely to keep running deficits as it deals with slower economic conditions and the ongoing trade dispute with the United States. He said the government is facing a changed economic environment and suggested that balancing the budget may not be realistic in the near term. His comments came alongside new projections from Ontario’s Financial Accountability Office showing the province may need to spend billions more to maintain current service levels, with more than $35 billion in projected deficits between 2027 and 2035. Bethlenfalvy also warned that cuts to federal transfers could force Ontario to reduce services. Opposition critics, including Green Party Leader Mike Schreiner, argued that the province’s fiscal approach is worsening the situation and putting pressure on healthcare, education and other public services. The Ford government is expected to present its mini budget in November.