Public accounts released today showed Ontario ended the 2023-24 year just $600-million in the red, down from the $1.3-billion deficit for that year projected in the 2023 budget
Minister of Finance Peter Bethlenfalvy receives a standing ovation as he tables the Ontario provincial budget at the legislature at Queen's Park in Toronto on March 26, 2024. Ontario ended the 2023-24 fiscal year with a nearly balanced budget, in part due to higher-than-expected revenue from international student tuition at colleges.
That revenue is accounted for as part of “other non-tax revenues,” which were $3.4 billion higher than projected. That boost was partly offset by lower-than-expected tax revenues. Average university fees in 2020-21 were $7,938 for domestic undergraduate students and $40,525 for international undergraduate students.
Miller announced Wednesday that the number of visas will be further reduced by 10 per cent, and Ontario government officials say they do not yet have an estimate of how that will affect the province’s finances. The provincial government announced in February that it would put an additional $1.3 billion over three years toward postsecondary institutions increasingly struggling with finances in the face of low provincial funding and frozen tuition fees, but colleges and universities have said it does not come close to sustaining the sector.
Revenue Government Budget Province Colleges Tuition Student Doug Ford Ontario Canada
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ontario ends 2023-24 with nearly balanced budget, partly due to international tuitionOntario ended the 2023-24 fiscal year with a nearly balanced budget, in part due to higher-than-expected revenue from international student tuition at colleges.
Read more »
Ontario police offer $50K reward to help solve fatal Nov. 2023 hit and runOntario Provincial Police are offering a $50,000 reward that leads to an arrest and conviction in the case of a fatal suspected hit and run last year.
Read more »
Feed Ontario counts more than one-million food bank visitors in 2023-2024New data shows the number of people needing help from food banks continues to rise. A record-breaking one-million people visited food banks in Ontario this p
Read more »
20 Exceptional Photographs Crowned Winners At Tokyo International Foto Awards 2023The 2023 TIFA winners are in—now it’s your turn! With the submission deadline approaching on September 30, this is your opportunity to showcase your best work.
Read more »
Itinerary nightmare: Ontario couple’s trip to Italy includes five flights, via Ontario, CaliforniaAn Ottawa woman says a travel agent's mistake thinking they were booking a trip from Ontario, California, and not Canada's capital, will force them to take a lengthy detour with a four-and-a-half-hour drive and five flights through Georgia and California to get to Venice, Italy for vacation.
Read more »
Ontario greenbelt debacle left public less trustful: government pollingOne of the largest factors standing in the way of Ontario being able to speed up critical infrastructure projects is a sense of public distrust fostered by the government's own history with the Greenbelt, polling commissioned by the government suggests.
Read more »