MEDIA RELEASE: Understanding Ontario’s 2018-19 Deficit

FOR IMMEDIATE RELEASE:

[La version française suit le texte anglais.]

JUST RELEASED FAO COMMENTARY REVIEWING

ONTARIO’S 2018-19 DefiCIT

TORONTO, October 17, 2019 - The Financial Accountability Office of Ontario (FAO) just released a commentary that explains why Ontario’s deficit doubled from $3.7 billion in 2017-18 to $7.4 billion in 2018-19.

The commentary outlines how policy decisions by the previous and current governments contributed to the doubling in Ontario’s 2018-19 deficit.

The commentary also shows that the unusually large $4.3 billion improvement in the 2018-19 deficit since the 2019 budget projection was largely the result of unexpectedly strong revenue growth.

Read the full FAO commentary and analysis here.

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For further information, please contact:

Jessica Martin l 647 527 2385 l jmartin@fao-on.org l fao-on.org