Ontario's government released a mini‑budget that projects a $16.9 billion deficit, a figure larger than earlier estimates. The province said part of the shortfall is tied to tariffs imposed by the United States and announced that the timeline for achieving a balanced budget will be extended.
The $16.9 billion fiscal gap reflects the impact of the U.S. tariffs, according to the budget documents. By postponing the date for a balanced budget, the government is seeking additional time to address the increased deficit.