The provincial budget came down Thursday afternoon but it might as well be called the COVID-19 budget.
Every part of the financial document was affected by pandemic spending.
Especially the deficit. It’s expected to add $100 billion in deficit spending over the next three years.
The budget deficit for this year remained unchanged from the Summer at $38.5 billion.
Any thoughts of a balanced budget in the next couple of years went away this past spring.
The Ministry of Finance says growth will rebound by 4.9 per cent next year and 3.5 per cent in 2022.
The Ford government’s 2020 plan includes a new tax credit for seniors to renovate their homes, more cash payouts for parents of young children, a raft of tax new cuts for business, and a vague pledge to allow Ontario residents to claim 20 per cent of the cost of a vacation taken inside the province in 2021.
It also includes $570 million more to fund hospitals, over and above what was announced in the fall.
Premier Doug Ford called it a great news budget for the province adding there is something in it for everyone.
