As Ontario prepares to table its next budget, experts say the province is walking a fiscal tightrope — caught between decisions from Trump’s administration and major spending commitments during the provincial election.
The latest fiscal update we had from the province was during the Fall Economic Statement, which downgraded housing start forecasts for the next three years, despite the province’s ambitious target of 1.5 million new homes by 2031, and projected a $6.6 billion deficit for the 2024-25 fiscal year.
At the time, we saw housing starts for 2024 projected at 81,300, a consecutive annual decline that left the government well short of its yearly target of 125,000.