Ontario PCs to unveil first budget since winning majority government

Ontario’s Progressive Conservative government is set to unveil its first budget since winning majority government.

The Tories said they inherited a $14.5 billion deficit from the Liberal government, however, the financial accountability officer has said it was closer to $12 billion.

The province has reduced the deficit by $1 billion so far largely due to higher sales and corporate income tax revenues.

Premier Doug Ford has not said how long it will take to eliminate the deficit but calls his government’s fiscal plan a thoughtful path to a balanced budget.

Politicians from the opposition have accused Ford’s government of inflating the deficit so they can justify cuts to programs and services.

Treasury Board President Peter Bethlenfalvy has said he would like to cut waste and the $12.5 billion a year the province spends on interest on its nearly $350-billion debt.