Ontario government projecting budget deficit to jump to $38.5 billion due to COVID-19

Ontario Finance Minister Rod Phillips announced Wednesday that due to higher spending in the health care sector, economic stimulus measures, and billions less in revenue, the provincial deficit would rise to $38.5 billion in 2020-2021.

• Ontario government to lay out next phase of coronavirus response in Thursday’s budget
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• Ontario budget deficit projected to jump to $38.5 billion in 2020-2021