This afternoon, Ontario’s Finance Minister, the Honourable Peter Bethlenfalvy, tabled the 2023 Fall Economic Statement (FES).
The government is expecting a $5.6 billion deficit this year due to a slowing economy. It is projected to be $5.3 billion in 2024-25. Ontario’s real GDP has a growth of 1.1% in the current year and sees a 0.5% growth in the following year. The government’s total expenses for 2023-24 are expected to be $206 billion.
This FES highlights a $3 billion investment in an Ontario Infrastructure Bank, removing the Harmonized Sales Tax (HST) on qualifying new purpose-built rental housing, and providing an additional $100 million to the Invest Ontario Fund.
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Today, the Honourable Chrystia Freeland, Canada’s Minister of Finance and Deputy Prime Minister, delivered the 2023 Fall Economic Statement in the House of Commons.
This afternoon, the Honourable Chrystia Freeland, Canada’s Minister of Finance, delivered the 2023 Budget in the House of Commons.