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Ontario to table 2020 budget on Thursday

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Shady Salah – Media in Toronto

The Ontario government will table its 2020 budget this Thursday which will extend COVID-19 relief to citizens, businesses and institutions to counter the pandemic, laying the foundation for future growth, renewal and economic recovery.  “To start us down the road to recovery, we need a healthy workforce. That’s why we have put the health and safety of every Ontarian first during this pandemic,” said Premier Doug Ford. “Getting people back to work, creating more jobs and attracting investment are also important priorities for our government. The upcoming Budget will strike a balance that will focus on continuing to protect everyone’s health and safety, while creating the right conditions for our economic recovery.”

The Budget will build on Ontario’s Action Plan: Responding to COVID-19, which was updated this summer to make available a projected $30 billion in response to the global pandemic. “The next phase of Ontario’s Action Plan will make available every necessary resource to continue to protect people’s health during the second wave of COVID-19 and beyond” said Minister Phillips. “It will also expand the support our government has provided to those still facing financial hardship due to the pandemic, including families, workers, vulnerable people, seniors and employers.”

QUICK FACTS

  • Throughout 2020, the Ministry of Finance has heard from over 8,000 individuals, organizations and businesses as part of numerous consultations, including the Ontario Jobs and Recovery Committee’s consultations and the 2020 Budget consultations.
  • To increase transparency given the ongoing uncertainty in the global economy, the government’s Budget will include multiple economic scenarios for Ontario’s economy and finances.
  • On October 13, the government released Ontario’s Second Quarter Economic Accounts, a report that details the province’s economic performance from April to June 2020.
  • The 2020-21 First Quarter Finances report released in August provided information about Ontario’s 2020-21 fiscal and economic outlook as of June 30, 2020.
  • On March 25, the government released Ontario’s Action Plan: Responding to COVID-19 alongside a one-year Economic and Fiscal Update based on the latest economic projections at that time.

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