Key Takeaways From Ontario’s 2025 Budget

Ontario projects $14.6-billion deficit amid tariff impacts

U.S. President Donald Trump's tariffs cast a pall over Ontario's budget with a $14.6-billion deficit projected this year. Find out more.

Key takeaways from Ontario’s 2025 budget

The Ontario government’s 2025 budget paints a grim picture of the province's economic future in the face of U.S. tariffs. As CBC’s Mike Crawley explains, the province is battling falling revenues and a deficit that's expected to more than double in size.

Ontario Projects $14.6 Billion Deficit in Budget Focused on US Tariffs and Economic Growth

Ontario’s 2025 budget includes support for businesses and workers hit by U.S. tariffs, new investments to grow key sectors, and a deficit three times larger than last year’s projection. This year’s budget, dubbed “A Plan to Protect Ontario,” responds to economic uncertainty caused by U.S. tariffs with a focus on building a stronger economy through nation-building projects and the province’s “most ambitious” capital plan yet, said Finance Ministe…