The Ford government has announced the date it will table its annual budget, a document that will offer insight into whether the province is heading for a tariff-related recession and how the government plans to stimulate the economy.
Ontario Finance Minister Peter Bethlenfalvy confirmed during question period at Queen’s Park on Thursday that he would table the budget on May 15.
The province’s budget is tabled every spring and lays out the government’s spending plans and commitments for the upcoming year. It also includes projections for areas like economic growth and new housing data.
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With U.S. President Donald Trump’s tariffs on steel, aluminum and the auto sector key issues in the 2025 provincial election, their effect on the economy and the Ford government’s response is likely to be a cornerstone of the upcoming budget.
Ontario’s financial watchdog recently suggested the province could enter a “modest” recession and lose jobs as a result of tariffs.
The Progressive Conservatives promised tens of billions in stimulus funding for the provincial economy during the recent election campaign. So far, the government has announced roughly $11 billion in tax deferral opportunities.
Bethlenfalvy said Wednesday that he would continue to support provincial workers but did not specify how much more funding could be unveiled.
“I’ll come out with my budget this spring to say more,” he said.
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