Ontario to Release Economic Statement November 14

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Ontario will release an é economic statement on November 14

Ontario Finance Minister Peter Bethlenfalvy (Archives)

Ontario Finance Minister Peter Bethlenfalvy will provide an update on the province's fiscal outlook two weeks from now of a fall economic statement.

Last month, he announced that Ontario would end the 2021-2022 fiscal year with a unexpected surplus of $2.1 billion.

In the last budget, the For d instead said it expected a deficit of 33 billion for this period, a forecast revised to 13.5 billion in August.

The Financial Accountability Office of the x27;Ontario, an independent entity, predicted last week that at current spending rates, the province would run budget surpluses through 2027-28.

The FAO, which accuses the Progressive Conservatives of lacking transparency, says the government's current spending plan contains $40 billion in deficits over six years, but also $44 billion in unallocated emergency funds, which could be used to fill these shortfalls.

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