Ontario’s spring budget will be delivered March 25, Finance Minister Rod Phillips says.
“We will stay the course in terms of balancing the budget by 2023,” he said at a Labourers’s International Union of North America training centre in Kleinburg, noting the government is ahead of its deficit projections.
“We are also concerned about our province’s debt of $353 billion,” Phillips added, calling debt interest of $24,000 a minute a “missed opportunity” and blamed the previous Liberal governments for “reckless spending.”
He did not say at what point the government will start making substantial paydowns of the debt but maintained “we are putting Ontario back on a sound financial footing.”
The budget lock-up for reporters and stakeholders will be at the Metro Toronto Convention Centre in downtown Toronto because the usual location — a government building across the street from the legislature — is under a renovation that will take several years.
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