Ontario Sharpens Axe as It Readies Plan to Cut Mounting Deficit
- Finance Minister Fedeli will deliver provincial fiscal update
- ‘I would expect them to address the deficit as a priority’
Ontario Premier Doug Ford, right, and his cabinet are sworn in at Queen’s Park in Toronto on June 29, 2018.
Photographer: Cole Burston/BloombergThis article is for subscribers only.
Investors will be watching for hints as to how Ontario plans to start tackling the world’s largest largest pile of sub-sovereign debt when the Canadian province gives a snapshot of its finances on Thursday.
Finance Minister Victor Fedeli will unveil the new government’s economic and fiscal outlook in the provincial legislature starting at about 1:15 p.m. While not an official budget, the document will outline the government’s initial assessment of a province that’s growing moderately while steadily racking up debt.