As provincial budget season winds down nationwide, we are left with the fiscal remains of the day as estimates of budget deficits assault our senses. With the 2025-26 fiscal year wrapping up, every provincial government is reporting or expected to report a budget deficit.
For example, Ontario’s deficit came in below what was projected at only $12.3 billion, but next year’s shortfall is now larger than initially projected at $13.8 billion. As numbers go, being a few billion dollars off from year to year, given the turbulent economic times, is to be expected. After all, borrowing from C.D. Howe, in the end, what is a billion dollars these days, anyway?
