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TORONTO — It's budget day in Ontario and the finance minister says he's prepared a plan with"targeted investments" to ensure the province's economy stays resilient in the face of uncertainty.Government sources told The Canadian Press on the eve of the budget that a program to give workers three paid sick days during the pandemic won't be renewed after it expires at the end of this month.
Finance Minister Peter Bethlenfalvy has been signalling that his budget will feature restraint, after years of big spending on COVID-19-related programs, but has said that won't equal program cuts. "While Ontario's economy has remained resilient, the economic road ahead continues to be uncertain," Bethlenfalvy said Wednesday.
Ontario's fall economic update forecast a deficit of $8.1 billion for the upcoming fiscal year and a relatively small deficit of $700 million in 2024-25, though those figures are likely to change.
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