of Ford’s government will present its annual budget at the end of March, a financial document the prime minister has promised will see no cuts.
During an appearance at the Empire Club in Toronto, Finance Minister Peter Bethlenfalvy revealed he would release the budget on Thursday, March 26.
The budget confirms the government’s spending plans for the coming year, along with economic indicators ranging from growth to new housing or spending on vices such as alcohol.
Bethlenfalvy has recently complained vocally about how much money Ontario is pouring into the health care sector, the single largest line item in its operating plan, calling it “unsustainable” at an event in Mississauga.
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“We’re in unprecedented territory in terms of people’s concerns. People are scared, they’re worried, they’re worried.” Bethlenfalvy said before of the current geopolitical and economic climate fueled in part by US President Donald Trump.
At the same time, the finance minister warned that the province is facing a “huge headwind, on top of uncertainty” that threatens to squeeze Ontario even further.
“The economic environment is slowing down, there is simply no doubt,” said the minister. “We’re growing at the slowest pace we’ve grown since COVID.”
Ford, however, promised that these pressures will not result in spending cuts when the budget is revealed in a few weeks.
“I’ll tell you right now: no, there won’t be,” he said Tuesday when asked about the cuts.
“My finance minister is the best finance minister I have ever seen. He is a proven fiscal manager of taxpayers’ money.”
Ford acknowledged that rising health care spending was on his mind, but said he had no plans to cut back.
“And yes, when you see the amount we’re investing in health care, it’s troubling,” he added. “He’s doing his job. But we’re going to continue to invest, continue to raise funds.”
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