ONTARIO NEWS RELEASE: Building Ontario for You
NEWS RELEASE
Building Ontario for You
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TORONTO — Today, Minister of Finance Peter Bethlenfalvy released the 2024 Ontario Economic Outlook and Fiscal Review: Building Ontario for You. The government continues to take a fiscally responsible approach towards building the critical infrastructure our growing communities need, reducing gridlock, and making life more affordable by keeping taxes low and putting more money back in your pocket. “Our government’s responsible approach has resulted in an improved fiscal position since the 2024 Budget, allowing us to keep taxes low, invest in infrastructure like roads, highways, hospitals and schools, and provide immediate relief to Ontario families as part of our plan to keep costs down,” said Minister Bethlenfalvy. “We’re going to continue investing responsibly to support Ontario’s growth and rebuild Ontario’s economy to make our province the best place to live, work and raise a family, all while reducing the debt burden for future generations.” The government’s plan reduces the deficit and retains a path to balance the budget by 2026–27, even with uncertain global economic conditions and other headwinds beyond the government’s control. Compared to the 2024 Budget, Ontario is also projected to see both stronger growth in real GDP and employment in 2024. Highlights of how the government is keeping costs down in the 2024 Fall Economic Statement include:
“We’re delivering on our plan to rebuild Ontario’s economy, creating better jobs and bigger paycheques for Ontario workers, while keeping costs down for families and businesses,” said Minister Bethlenfalvy. “We’re supporting workers, families and municipalities, investing in their success to create stronger communities and better opportunities for years to come.” |
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Media ContactsColin Blachar Scott Blodgett |