On Air Now John Tesh @ Night on 105-1 The River 7:00pm - Midnight
Now Playing Lizzo 2 Be Loved (Am I Ready)

Ontario Budget Revealed

Friday, 16 May 2025 06:53

By Marcie Culbert X @marcieculbert

It includes a deficit of $14.6 billion for this year, and a deficit of $7.8 billion for next year.

ONTARIO - The Ford Government has released its budget for 2025 and it includes a lot of investments.

There's a $5 billion fund to provide businesses with relief as we deal with the tariffs from US President Donald Trump. The province is creating a new $500 million Critical Minerals Processing Fund and adding $5 billion to an infrastructure financing fund.

Finance Minister Peter Bethlenfalvy says the province is investing in infrastructure and job creation to get us through these tough economic times.

"Our government is delivering on our mandate to protect Ontario and help workers and businesses weather the storm, while creating the long-term foundations for a strong, resilient and competitive economy. We’re making the investments in workers, infrastructure and services that will protect Ontario, no matter what."

The government has also announced a new program to boost the number of Ontario grapes in blended wine. It's a $175-million investment over five years, in hopes of doubling the percentage of Ontario grapes in wine.

The budget includes a deficit of $14.6 billion, which is an increased compared to the $4.6 million that was predicted in last year's budget. It also includes a deficit of $7.8 billion for 2026.

Share

More from Local News