Ontario’s 2025 budget includes support for businesses and workers hit by U.S. tariffs, new investments to grow key sectors, and a deficit three times larger than last year’s projection.
This year’s budget, dubbed “A Plan to Protect Ontario,” responds to economic uncertainty caused by U.S. tariffs with a focus on building a stronger economy through nation-building projects and the province’s “most ambitious” capital plan yet, said Finance Minister Peter Bethlenfalvy at his May 15 budget address at the legislature.
“Tariffs have created an economic challenge right across Ontario, and it is our communities who are hurting the most, Madam Speaker–but our government is there for them too,” the minister said….