[ad_1]
\n<\/p>\n
TORONTO \u2014 Ontario Premier Doug Ford is signalling that his government\u2019s budget will favour spending over balanced books, as a way to keep the economy afloat in light of U.S. President Donald Trump\u2019s tariffs.<\/p>\n
Finance Minister Peter Bethlenfalvy is set to table the 2025-26 budget later today.<\/p>\n
Ford has said the province can always balance the budget in a year or two, but for now he wants to spend on infrastructure and programs to keep people employed or get them retrained.<\/p>\n
He says he doesn\u2019t believe in slashing and burning, especially during tough economic times.<\/p>\n
The province\u2019s last major fiscal update, the fall economic statement, had eyed a balanced budget for 2026-27, but that came before the election of Trump and the implementation of tariffs.\u00a0<\/p>\n
A recent report from Ontario\u2019s Financial Accountability Office said American tariffs will reduce demand for Ontario\u2019s exports, slowing real GDP growth from the projected 1.7 per cent to 0.6 per cent, which \u201cimplies that a modest recession would occur in 2025.\u201d<\/p>\n
\u00a92025 The Canadian Press<\/strong><\/p>\n<\/p><\/div>\n