Ontario will “absolutely” balance its books for the first time in almost a decade regardless of what’s in Wednesday’s federal budget, says provincial Finance Minister Charles Sousa.
“We’re balancing because of the measures we’ve taken to control spending and of course the growth in our economy,” Sousa told reporters Tuesday at Queen’s Park.
“We will take every step necessary to be nimble in achieving that balance this year, next year, and the year after that,” the treasurer vowed.
His comments come on the eve of federal Finance Minister Bill Morneau’s budget in Ottawa.
Sousa is expected to table his own spending plan early next month — on either April 6 or 13.
With an election set for June 7, 2018, his budget will be the first one in the black since before the 2008 worldwide financial crisis.
He insisted there would be no deficit this year no matter what Morneau has in store for Ontario in terms of federal transfer payments or other funding to the province.
“The budget will come out after we take a full review (of Ottawa’s fiscal blueprint) and after we lock in our numbers,” said Sousa.
“I want to make sure that I capture everything that’s required before I release the date.”
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