TORONTO — Ontario’s finance minister is set to table the province’s budget today, with no tax increases expected.Peter Bethlenfalvy has indicated the fiscal plan will reflect economic uncertainty, citing ongoing trade tensions led by Donald Trump and broader global conflicts as factors weighing on Ontario’s outlook.Earlier this year, Ontario’s deficit was projected at $13.4 billion, with total debt reaching $460 billion in 2025. Despite this, the province’s net-debt-to-GDP ratio has continued to improve.Bethlenfalvy has repeatedly pledged to return the province to a balanced budget, though the projected timeline for achieving that goal has been pushed back in successive fiscal updates.Economists have cautioned against introducing significant new spending measures, warning that fiscal restraint may be necessary as economic conditions remain uncertain.In advance of the budget, the government announced additional spending commitments, including $325 million for primary care and $1.4 billion to cover Ontario’s portion of the HST for certain homebuyers.
