"The Ontario government's 2025 budget includes a $14.6-billion deficit and $33 billion in planned infrastructure investment planned for the next fiscal year."
"Unemployment in Ontario was 7.6 percent in February, and has been steadily on the rise since mid-2023, well before Trump returned to office."
"The province lost nearly 40,000 jobs in the auto, steel and aluminum sectors because of the tariffs."
"The Financial Accountability Office said in a separate report that Ontario's gross domestic product growth, the broadest measure of economic health, was better than expected in 2025."
Ontario's 2025 budget reveals a $14.6 billion deficit and plans for $33 billion in infrastructure investment. The province's economy faces challenges, including a rising unemployment rate of 7.6 percent and job losses in key sectors due to U.S. tariffs. Despite these issues, Ontario's independent fiscal watchdog reported that the province avoided a recession in 2025, with better-than-expected GDP growth. The budget will also outline economic projections for 2026, reflecting the ongoing volatility from global events and trade negotiations.
Read at www.cbc.ca
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