Toronto/CMEDIA: The Ontario Ford government’s spring budget at Queen’s Park reportedly is expected to be delivered today by Ontario Finance Minister Peter Bethlenfalvy with the province’s economy being chipped away by the U.S trade war.
Although Ontario’s economy has struggled, it has shown resilience in the face of US President Donald Trump’s tariffs as the impact of Trump’s tariffs on the province’s trade-exposed economy has been uneven, hitting some sectors harder than others.
Ontario’s Unemployment being 7.6 percent in February, it has steadily been on the rise since mid-2023, well before Trump returned to office.
The impact of the US tariffs on Ontario’s second and third quarters of 2025, had resulted in the loss of nearly 40,000 jobs in the auto, steel and aluminum sectors.
Last year’s budget focus was on various funds designed to help mitigate impacted businesses and workers by the U.S. tariffs doubling down on infrastructure and critical minerals.
Also the province had earmarked last year $14 billion in targeted aid, which largely focused on time-limited tax deferrals for hard-hit businesses.
“We are building the province we want tomorrow and a more competitive, resilient and self-reliant economy so Ontario becomes the best place to invest and do business in the G7,” Bethlenfalvy said at a press conference earlier this week.
A number of announcements and promises expected to be reflected in the spring budget have already been laid out by The Ford government including classroom supply spending cards for elementary school teachers, a temporary break on HST on new home, a new electronic system for health records, and banning the reselling of event tickets for more than face value.
Also announced by government in Feb that besides boosting post-secondary spending by about $6.4 billion over four years, it would shift most student assistance to loans instead of grants, calling the current system “unsustainable.”
The Ford government announced on Monday that it would avail use of new powers in last year’s budget to take over the city-owned portion of Billy Bishop Airport in downtown Toronto.
The province would declare the airport lands a “special economic zone,” Ontario Premier Doug Ford said, facilitating normal regulations and expanding the airport to allow for jets helping to unlock the economic potential of the airport and promised to give the city “fair compensation” for the seizure.
Ontario’s population has grown by nearly 1.5 million people since 2020, there has been increasing demand for services like health care.
But Ford has promised not to introduce any cuts to health care in the budget.
