TORONTO – The Government of Ontario is preparing to file its first balanced budget since the economic recession on April 27. Provincial Finance Minister Charles Sousa made the announcement Thursday in a speech to the Empire Club of Canada.
The budget will leave room for new investments, he argued. A tax credit for public transit will be provided in the budget for persons 65 years of age and over. This will happen shortly after the federal government announced the elimination of such a 15 per cent credit on the purchase of transportation tickets.
The Ontario government’s tax credit will make it easier for seniors to “go out to the gym, library or concerts with their grandchildren” Argues Minister Sousa. He also highlighted investments made by the Ontario government in innovation, adding that the public could expect even more from April 27.
He also indicated that additional health spending is coming, suggesting that major investments will be announced. If Ontario succeeded in merging a deficit of more than $ 20 billion, the province’s debt continues to widen.