Increased spending and more debt.
Finance Minister Charles Sousa has revealed the Liberal budget heading into the provincial election this June.
The balanced budget includes $158.5-billion in spending, which Sousa says reflects Ontario’s values.
Spending is up 12% overall.
However, the government will carry deficits into the next six years, including a $6.7-billion hit over the next year.
He says the message from the public is clear, continue to manage the finances responsibly and create more economic opportunities for everyone.
Sousa says there’s new challenges that Ontario has to deal with and sacrifices must be made.
Many of the major funding announcements including Pharmacare, daycare and special education were already made prior to the release of the fiscal document.
Ontario hospitals are getting $822-million in funding.
Sousa says that represents a 4.6% increase in hospital funding.
Sousa says the hike will improve wait times, and increase the number of MRI’s, organ transplants as well as cancer and cardiac surgeries.
Seniors will also see some benefits Wednesday’s provincial budget.
A billion dollars over 3-years will be spent on a new healthy home program, providing up to $750 for every eligible household that is led by a person who is 75-years of age and older.
Sousa says the money will help off-set the costs of maintaining their homes.
We are making an additional investment of $2.1 billion over 4 years to increase access for mental health & addiction services; a part of a historic $17 billion commitment over 4 years to improve care for mental health and addictions, the largest in Ontario’s history #OnBudget18
— Charles Sousa (@SousaCharles) March 28, 2018
We are expanding OHIP+ to include free medication for seniors, eliminating the annual deductible and co-pay from the Ontario Drug Benefit program, beginning August 2019. Every person 65 and above in Ontario will receive free pharmacare. #OnBudget18
— Charles Sousa (@SousaCharles) March 28, 2018
This Budget uses our strengthened economic position to address people’s priorities. This Budget makes the choice to help people better manage the pressures of everyday life. The 2018 Ontario Budget is a plan for care and opportunity. #OnBudget18 pic.twitter.com/SrBKYkKhSm
— Charles Sousa (@SousaCharles) March 28, 2018
