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Ontario pushes balanced budget back another year as deficit climbs to $16.9B

The Ford government is projecting a $16.9-billion deficit this year as U.S. tariffs, sluggish economic growth and global uncertainty continue to weigh on the province's finances.

Published Oct 29, 2026 at 5:13pm

Barbara Patrocinio
By
Barbara Patrocinio
Ontario pushes balanced budget back another year as deficit climbs to $16.9B

Ont-Fiscal-Update 20261029 Ontario Premier Doug Ford, left, and Finance Minister Peter Bethlenfalvy arrive ahead of tabling the government's fall economic statement in the legislature in Toronto, on Thursday, Oct. 29, 2026. THE CANADIAN PRESS/Frank Gunn

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