Executive summary
On 5 November 2020, Ontario Finance Minister Rod Phillips tabled the province’s fiscal 2020–21 budget. The budget contains several tax measures affecting individuals and corporations, but contains no new taxes and no tax increases.
As set out in Table A, the Minister anticipates a deficit of CA$38.5 billion1 for 2020–21 and projects deficits for each of the next two years.
Table A – Projections of Ontario budgetary deficit
2019–20 ($ billions) | 2020–21 ($ billions) | 2021–22 (… |