BREAKING | Ontario government presents $187B pandemic-era budget
Ontario is spending a record $187 billion in its first pandemic-era budget, with money earmarked to support the health-care sector, help seniors living at home and subsidize electricity rates for businesses.
The fiscal plan presented today also shows a record deficit of $38.5 billion for this year, consistent with the government's summer projections, and says a path to balance will be presented in the 2021 budget.
The Progressive Conservative government says it is spending $2.5 billion more on hospitals this fiscal year, including $572 million announced today aimed specifically at offsetting COVID-19 expenses.
The budget also includes a tax credit aimed at helping seniors stay at home longer, which will reimburse them for 25 per cent on eligible renovations of up to $10,000, regardless of their income and whether they owe taxes for 2021.
The document does not, however, provide costing for the new standard for long-term care announced earlier this week, which would see nursing home residents receive an average of four hours of direct care every day.
The government put off delivering a full fiscal plan earlier this year, citing the economic uncertainty caused by the global health crisis.
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