Finance Minister Peter Bethlenfalvy's latest budget includes billions in supports to shore up the province's economy in the face of costly tariffs from the U.S., plunging Ontario deeper into deficit and deferring a planned return to balance by another year.
Some of the biggest ticket items in Thursday's budget include the new $5 billion Protect Ontario Fund to support businesses harmed by the tariffs, $50 million to help businesses find new trading markets, an additional $1 billion for skills training and $500 million to spur growth in the critical mineral processing sector.
The province also vowed to defer some taxes on businesses, offer up tax credits for manufacturers and shortline rail operators, slash Workplace Safety and Insurance Board premiums, and make gas and fuel tax cuts permanent.