Ontario Finance Minister Peter Bethlenfalvy introduced the 2021 provincial budget this afternoon at Queens park and there are some big numbers in there.
For starters, they are forecasting about 100 billion dollars in pandemic spending that will leave Ontario with a deficit that will last until at least 2029.
The deficit for this year is projected at 33.1 billion.
Finance Minister Peter Bethlenfalvy said adding mountains of additional debt did not phase him.
“I would do it all over again for protecting the health and well being of the people of Ontario. We have a war against an invisible enemy – this is what governments do.”
“We’re incurring debt not just to increase the deficit but to support healthcare and increase jobs,” he said.
1 billion has been set aside to assist public health units across the province administer the COVID-19 vaccine.
Another 2.1 billion will go to Ontario hospitals to assist with the backlog of surgeries and other procedures.
Businesses that can prove cash losses from the pandemic are eligible to apply for another round of cash grants between 10 and 20 thousand dollars.
If you qualified the first time you will receive it automatically this time around.
Parents with children will be getting $400 dollars per school age child, 500 dollars for children with special needs.
650 million will go to long term care needs like staffing.
Another 400 million has been earmarked for the tourism sector.
There are some cuts as well, overall education will lose about 800 million dollars, and MPP Monte McNaughton’s Labour Ministry will lose about 70 million.
