TORONTO – Ontario is set to table its 2025-26 budget on May 15.
Finance Minister Peter Bethlenfalvy announced the date today, saying it will be a plan that helps Ontario build more, build faster and achieve free trade across Canada.
The fiscal plan is being tabled later than usual, in part due to the timing of a winter provincial election held on Feb. 27.
The budget comes at a time when the province faces economic headwinds due to U.S. President Donald Trump’s tariffs, which Ontario’s budget watchdog says could sharply affect the province’s GDP and job market.
Bethlenfalvy says he is focused on economic prosperity and giving workers more tools so Ontario can boost productivity.
Ontario’s last major fiscal update, the fall economic statement, had projected a relatively small $1.5-billion deficit for 2025-26 and eyed a balanced budget for 2026-27, but that came before the election of Trump and the implementation of tariffs.
This report by The Canadian Press was first published May 1, 2025.
