2022 Ontario Budget Commentary

April 29, 2022

On April 28, 2022, the Ontario government presented its 2022 Budget – Ontario’s Plan to Build. This document includes insight into measures that affect individuals, businesses, and more.

While the Budget contains very little in terms of income tax proposals, it contains plans for significant spending on infrastructure for hospitals, transit and roads. The budgetary deficit for 2022-2023 is projected at $19.9 billion, decreasing to $12.3 billion in 2023-2024 and $7.6 billion in 2024-2025. The government expects to return to a surplus position by 2027-2028.

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