Ontario Finance Minister Rod Phillips will deliver the government’s fall budget Thursday afternoon in the legislature.
The budget was originally scheduled to be released in March but was delayed so the province could deal with the COVID-19 pandemic. Thursday’s budget is expected to be much different than the previous budget because there are so many unknowns due to coronavirus.
The government will deliver three scenarios based on different fiscal and public health circumstances. “A Path to Balance,” what the Financial Accountability Office pegs at a $38.5-billion deficit, will be put aside for now as the focus will be on recovering from the pandemic.
Sources with the government tell Global News the deficit will not significantly change in Thursday’s budget.
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Money will be invested in support for seniors and long-term care homes which were hit the hardest at the beginning of the pandemic and continue to be a vulnerable population amid the second wave. Nearly 2,000 seniors have died from the virus in long-term care homes so far.
In October, the government announced an increase in pay for personal support workers (PSWs) in long-term care and community care who are eligible for a $3 an hour pay increase, while hospital PSWs are eligible for a $2 an hour pay hike. The temporary increase will cost the government $461 million and will expire in March 2021.
Also expected in the budget is support for families, tax relief for small businesses, money for skills training as well as contingency money set aside to deal with unforeseen financial burdens due to COVID-19.
Also expected is confirmation that the province plans to extend the ability for restaurants to continue to deliver alcohol.
Not expected in the budget — pet projects like changes to licence plates, something which was seen in the last provincial budget as the focus will be on getting Ontario through the pandemic.
Phillips will deliver the budget at Queen’s Park around 4 p.m.
— With files from The Canadian Press.