From National Post · Scott Stinson · · 1m 20s
Ontario Deficit Soars to $16.9B as Trump Tariffs Hit
Ontario's budget deficit jumps to $16.9 billion amid Trump tariffs, delaying balanced budget by four years.
In brief
Ontario's budget deficit jumps to $16.9 billion amid Trump tariffs, delaying balanced budget by four years. Ontario's 2026-27 budget deficit is forecast at $16.9 billion, up $3 billion from March's estimate, due to Trump tariffs. Originally reported by National Post.
Ontario's Deficit Forecast
The 2026-27 budget deficit is now forecast at $16.9 billion, up $3 billion from March's $13.8 billion estimate.
2027-28 Deficit Doubles
The 2027-28 deficit is forecast at $12.7 billion, more than double the $6.1 billion predicted in March.
2028-29 Deficit Stays Negative
Ontario is expected to remain $5.7 billion in deficit for 2028-29, missing the balanced budget target.
Fourth Delayed Budget Target
This marks the fourth time in the Ford era that the government has pushed back its balanced budget target date.
Trump Tariffs Impact
Tariffs on over 50% of Ontario's exports to the U.S. have slowed GDP growth and job creation.
Ford Government's Stance
The government claims it has constrained public service growth at 1.6% since 2017 versus a 30% federal rise.
No Spending Cuts Announced
Despite budget pressures, the government announced no public service cuts or buyouts, only efficiency reviews.
Ford's Paradox
Ford criticizes government waste but avoids tough measures when delivering bad economic news.
What matters most
Ontario's 2026-27 budget deficit is forecast at $16.9 billion, up $3 billion from March's estimate, due to Trump tariffs.
