The Ford government is set to release its first budget next month.
According to Minister of Finance Vic Fedeli, the budget will be delivered on April 11, 2019.
“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.”
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During Fedeli’s announcement, the Minister said that Ontario has made progress despite inheriting a $15 billion deficit and more than one-third of a trillion dollars in debt from the previous government.
The government’s 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, according to the province.
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,” he said.
“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.”