2021 Ontario Budget Commentary

2021 Ontario Budget CommentaryOn March 24, 2021, the Ontario government presented its 2021 Budget after a year of dealing with the COVID-19 pandemic, and four and a half months since its previous Budget.

The budgetary deficit for 2021-2022 is projected at $33.1 billion, down from $38.5 billion for the previous year, with deficits of $27.7 billion and $20.2 billion projected for 2022-23 and 2023-24.

Using its most realistic scenario, the government does not expect a return to a balanced budget until 2029. It was said by the Minister of Finance “And while this is neither sustainable nor desirable forever, I am absolutely, unequivocally convinced it is necessary to get through the pandemic and to recover stronger.”

This document includes insight into measures that affect individuals, businesses, and more.

Download 2021 Ontario Budget Commentary