2020 Economic and Fiscal Update

March 25, 2020

In an effort to draw full attention to mitigating both the health and economic fallout of the COVID-19 pandemic, the Government of Ontario has elected to delay the release of its annual Budget.

Instead, on March 25, the government released an economic and fiscal update entitled, “Ontario’s Action Plan: Responding to COVID‑19,” which provides a one-year economic forecast and the government’s initial response plan to the COVID-19 crisis. The response plan consists of a proposed $17 billion package, with measures intended to complement the federal response.

Note that we can expect a formal Budget no later than November 15, 2020.

To read the full update, click here.