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2016 Ontario Budget Commentary

Richard Weber on February 26, 2016 in Uncategorized

On February 25, 2016 Finance Minister Charles Sousa tabled his fourth Budget.

Stronger economic growth in Ontario boosted government revenues resulting in the province's budget deficit to decrease to an expected $5.7 billion, down from the $8.5 billion projected at the end of 2015.  The deficit is expected to drop to $4.3 billion for 2016-17 and to be eliminated by 2017-18.  Furthermore, the government is also projecting a balanced budget in 2018-19. 

While this Budget does not propose any changes to personal income tax rates, federal personal rates were changed effective January 1, 2016.