A 2020 provincial budget will come down on Thursday, November 5.
Minister of Finance Rod Phillips says it will provide a three-year outlook that will build on the government’s $30-billion response to COVID-19.
“By putting forward a multi-year plan next week, Ontario will once again be one of the leaders among Canadian governments, and this is important. As any family or small business owner understands, having a financial plan is important, especially when things are uncertain.”
Phillips says the government will get back on the traditional budget calendar with another multi-year budget update by the end of March 2021 that will outline a plan to return Ontario to a fiscally sustainable path.
He adds the fiscal document will include input he received in 2020 Budget consultations with a focus on health care, supporting people and economic recovery.
Phillips admits a great deal of uncertainty remains today, but they understand more about the virus than they did eight months ago, and they know more how people and economies will respond.
“We know that surges in cases and even future waves are to be anticipated until we have a vaccine. We know that people and employers will continue to need support until we are on the road to recovery.”
“Ontario’s 2020 budget will look confidently into the future, but it will not presume that any of us have all the answers. It will be informed by input from over 8,000 people, including employers, labour organizations, not-for-profits, religious and cultural organizations and our partners in municipal government,” says Phillips.
Phillips adds it will build on their successful relationship with their federal partners.
“It will make available every necessary resource to continue to protect people’s health going forward, and it will expand the support our government has provided to those still facing financial hardship due to the pandemic, including families, workers, vulnerable people, seniors and employers.”
