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Ontario finance minister to reveal lower deficit number: source

Ontario Finance Minister Charles Sousa speaks during a press conference at Queen's Park in Toronto on Monday, September 22, 2014. .
Ontario Finance Minister Charles Sousa speaks during a press conference at Queen's Park in Toronto on Monday, September 22, 2014. . THE CANADIAN PRESS/Darren Calabrese

TORONTO – Sources say Ontario’s finance minister will announce a lower number for the provincial deficit in a speech today in Toronto.

Charles Sousa is expected to reveal the new deficit figure today during a pre-budget address at the Toronto Region Board of Trade during the noon hour.

Sousa is soon to deliver a provincial budget but a date has yet to be set.

A centrepiece of the budget is expected to be the money that will be raised from the sale of assets such as Hydro One.

The government last year announced $130 billion in spending and projected a deficit of $12.5 billion for 2014-15.

But Sousa has said previously that he plans to balance the province’s books by 2017-18.

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Late last year, the provincial auditor general said that Ontario’s debt will have increased to $325 billion by 2017-18, more than double the level of 10 years ago.