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.
