Vic Fedeli/Facebook Stephen Lecce/Twitter
Ontario 2018-19 Third Quarter Finances projecting a deficit of $13.5 billion in 2018–19 represents an improvement of $1.0 billion from the 2018 Ontario Economic Outlook and Fiscal Review, and a $1.5 billion improvement from the $15.0 billion inherited deficit identified by the Independent Financial Commission of Inquiry.
"Our government's first Budget will outline our plan to return the Province to balance in a responsible manner, and protect what matters most - preserving critical public services, including our world-class health care and education system," said Fedeli.
"It will also outline how we will create and protect jobs for Ontario workers, and put the people at the centre of everything we do in government."
Fedeli and Lecce talked with individuals, workers and families about government's plan to cut red tape and make Ontario Open for Business — and Open for Jobs.
"Our first steps towards restoring Ontario's fiscal health are paying off. Businesses are investing, expanding and hiring in Ontario, creating jobs and ensuring prosperity reaches every corner of this province. We are on the right track," added Fedeli.
The recently released Ontario 2018-19 Third Quarter Finances forecasts an improvement of $1.5 billion in the Province's deficit to $13.5 billion. The Third Quarter improvement is largely the result of stronger economic growth, supported by Ontario's open for business approach to government. Balancing the budget is not just a fiscal imperative, but a moral one, Fedeli said.
"Every dollar that is spent on paying interest on debt is one less dollar going to our schools and hospitals. Unless we take action now, our children and grandchildren will have to bear an even greater burden. Balancing the budget will help us sustainably fund essential public services for current and future generations."