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Ontario posted its first budget surplus in 14 years
Robert McKenzie
/ Categories: News, Ontario, Economy

Ontario posted its first budget surplus in 14 years

Great News for Struggling hardworking families

THUNDER BAY, ONTARIO  ~~~~~~  September 23, 2022  (LSNews)  “This surplus puts Ontario in a stronger fiscal position in the short-term,” Ontario’s government said in the statement. 

Ontario had been expected to return to a balanced budget in fiscal 2027-2028.

Great news for hard-working families trying to put food on the table for their family and pay every increasing  Federal Climate Change Taxes 

Today, the Ontario government released the 2021-22 Public Accounts, outlining the final audited financial results of the province for the fiscal year ending March 31, 2022.

“Our government made unprecedented investments in the people of Ontario to provide families, health care workers, educators and businesses a plan that will keep Ontario open, safe and prepared,” said Prabmeet Sarkaria, President of the Treasury Board. and

Peter Bethlenfalvy Minister of Finance

“Despite the financial planning challenges jurisdictions faced as a result of the pandemic, we have made the prudent investments necessary to respond quickly and effectively to this ever-changing virus and continue to build Ontario’s future.”

Building on Ontario’s historic spending in 2020-21 to support people, businesses and the province’s health system during the pandemic, the government invested $170.5 billion in 2021-22, including $9.6 billion more in base funding alone for health care, education, infrastructure and other initiatives to build a stronger Ontario.

The Public Accounts outline Ontario’s fiscal picture at the end of 2021-22, demonstrating that revenues exceeded the 2021 budget forecast, mainly due to Ontario’s resilient economy and higher-than-projected inflation. This left Ontario with a $2.1 billion surplus, temporarily eliminating the province’s deficit. Ontario’s situation is not unique. Other provinces that have released updates to their 2021-22 deficit figures, including Quebec, Saskatchewan, Alberta and British Columbia, are also seeing revenues in excess of their initial forecasts.

This surplus position is not indicative of the 2022-23 fiscal outlook, as the Public Accounts do not consider any forward-looking factors, such as the impact of changes in the economy or future spending decisions.

Amid global economic uncertainty and with the cost-of-living increases reaching levels not seen in decades, this surplus puts Ontario in a stronger fiscal position in the short-term. This enables the province to support people and businesses during a potential economic slowdown. By maintaining a plan that is fiscally flexible, the government will continue to invest in building the critical infrastructure that Ontarians rely on like highways, public transit, schools, hospitals and long-term care homes, particularly as the cost of labour and supplies continues to increase.

In addition to eliminating the cost of renewing licence plates, temporarily cutting the gas tax and removing road tolls on highways 412 and 418, the government is putting its short term stronger fiscal position to use by putting more money in people’s pockets.

To that end, and in response to preliminary testing data that is showing that approximately half of grade nine students are struggling with math after two years of pandemic disruptions, the government is enhancing its Plan to Catch Up by increasing funding for direct payments to parents by $140 million, bringing total investments to parents this year to over $365 million.

Parents can use their direct payments for additional tutoring supports or supplies and equipment that support learning. The province will provide details on when and how parents can expect to receive their direct payments in the coming weeks.

"Ontario's Plan to Catch Up is designed to keep students in normal, stable, and enjoyable classrooms that get back to the basics of learning critical skills, with an emphasis on reading, writing, and math," said Stephen Lecce, Minister of Education. “We are again stepping up support for parents by providing an enhanced direct payment to support their children as they catch up amid a rising cost of living.”

The Public Accounts show that the government continued to invest in highways, transit, hospitals and other critical infrastructure. In 2021-22, the province spent $17.7 billion on infrastructure, including $6.1 billion on public transit and $2.6 billion on provincial highways, and invested $2.3 billion more in infrastructure than the previous year, with increased spending on public transit, schools, health care and community infrastructure.

Ontario invested $75.7 billion in the health sector in 2021-22, an increase of $6.2 billion from 2020-21 including a $5.2 billion increase in funding for base programs. This is the largest year-over-year dollar increase in health sector spending on record.

The 2021-22 increase in health sector spending is supporting key investments including:

  • $1.8 billion for Ontario’s COVID-19 testing strategy and vaccine roll-out;
  • $1.6 billion in additional hospital funding;
  • $1.2 billion to support increased utilization of health care services, including more visits to physicians and practitioners, increased spending on drug programs to support Ontario’s aging population, as well as the addition of new therapies; and
  • $900 million to stabilize the health and long-term care workforce, including supports for the temporary retention incentive for Ontario's nurses, the accelerated training program and wage enhancement for personal support workers and direct support workers, and the Long-Term Care Staffing Plan to increase daily direct care for residents.

By November 15, the government will table Ontario’s fall economic statement, which will lay out the next steps in the government’s plan to support people and businesses in a time of economic uncertainty, while building on its record investments.

“The 2021-22 Public Accounts demonstrate that the government has continued to make record investments to support people and businesses, while upholding our commitment to bring regular and transparent fiscal updates to the people of Ontario,” said Peter Bethlenfalvy, Minister of Finance. “With our approach, we are ensuring the province is prepared in the face of ongoing economic uncertainty, while continuing to make significant investments in health, education and infrastructure.”

The government intends to introduce legislation to pause the automatic pay increase MPPs are supposed to receive when the province ends a fiscal year with a surplus. While people are struggling due to increasing costs, politicians should not be getting raises.

Quick Facts

  • For the fifth year in a row, the Auditor General has provided a clean audit opinion on the province’s financial statements, reinforcing the government’s commitment to transparency and accountability in the province’s finances.
  • Public Accounts is one piece of the government’s regular fiscal reporting cycle. The government provides regular fiscal updates each quarter including updated year-end deficit projections based on the latest economic and fiscal information.
  • In 2021-22, total revenue in Ontario was 20.2 per cent higher than the 2021 Budget forecast, largely due to higher taxation revenues reflecting a resilient economy and higher than expected inflation.

Ontario’s results are in line with other provinces who have released updated year-end results, many of which reported a surplus or balanced budget in 2021-22.

 

#LSn_Econ #LSN_NorWest  #LSN_SSM  #LSN_TBay 

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Events Calendar Arts

«September 2022»
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  • Fighting Walleye welcome Soo Eagles for Teleco Cup
    Fighting Walleye welcome Soo Eagles for Teleco Cup

    Fighting Walleye welcome Soo Eagles for Teleco Cup

    THUNDER BAY, ONTARIO ~~~~~  September 2, 2022 (LSNews)  The Kam River Fighting Walleye are excited to host the Soo Eagles of the NOJHL in a three game exhibition series at Norwest Arena in Oliver Paipoonge. The teams will be working at capturing  the Teleco Cup over the labour day weekend.

    Heck of a game tonight, you won’t want to miss tomorrow night’s big rematch!

    This is the third annual Teleco Cup with the Thunder Bay North Stars capturing the inaugural cup and the Fighting Walleye winning last season. Fighting Walleye President is extremely grateful for the corporate support “ This is the third year that Teleco has come onboard as the presenting sponsor without incredible corporate partners like Teleco junior hockey wouldn’t exist. We are very excited for our fans to have the opportunity to watch the Walleye compete against such a quality organization in the Soo Eagles. Our hockey ops staff has done an incredible job assembling this years team and we are all excited to see them in action”

    #LSN_Sport  #LSN_SSM   #LSN_TBay 

    Read more
3
  • Fighting Walleye welcome Soo Eagles for Teleco Cup
    Fighting Walleye welcome Soo Eagles for Teleco Cup

    Fighting Walleye welcome Soo Eagles for Teleco Cup

    THUNDER BAY, ONTARIO ~~~~~  September 2, 2022 (LSNews)  The Kam River Fighting Walleye are excited to host the Soo Eagles of the NOJHL in a three game exhibition series at Norwest Arena in Oliver Paipoonge. The teams will be working at capturing  the Teleco Cup over the labour day weekend.

    Heck of a game tonight, you won’t want to miss tomorrow night’s big rematch!

    This is the third annual Teleco Cup with the Thunder Bay North Stars capturing the inaugural cup and the Fighting Walleye winning last season. Fighting Walleye President is extremely grateful for the corporate support “ This is the third year that Teleco has come onboard as the presenting sponsor without incredible corporate partners like Teleco junior hockey wouldn’t exist. We are very excited for our fans to have the opportunity to watch the Walleye compete against such a quality organization in the Soo Eagles. Our hockey ops staff has done an incredible job assembling this years team and we are all excited to see them in action”

    #LSN_Sport  #LSN_SSM   #LSN_TBay 

    Read more
4
  • Fighting Walleye welcome Soo Eagles for Teleco Cup
    Fighting Walleye welcome Soo Eagles for Teleco Cup

    Fighting Walleye welcome Soo Eagles for Teleco Cup

    THUNDER BAY, ONTARIO ~~~~~  September 2, 2022 (LSNews)  The Kam River Fighting Walleye are excited to host the Soo Eagles of the NOJHL in a three game exhibition series at Norwest Arena in Oliver Paipoonge. The teams will be working at capturing  the Teleco Cup over the labour day weekend.

    Heck of a game tonight, you won’t want to miss tomorrow night’s big rematch!

    This is the third annual Teleco Cup with the Thunder Bay North Stars capturing the inaugural cup and the Fighting Walleye winning last season. Fighting Walleye President is extremely grateful for the corporate support “ This is the third year that Teleco has come onboard as the presenting sponsor without incredible corporate partners like Teleco junior hockey wouldn’t exist. We are very excited for our fans to have the opportunity to watch the Walleye compete against such a quality organization in the Soo Eagles. Our hockey ops staff has done an incredible job assembling this years team and we are all excited to see them in action”

    #LSN_Sport  #LSN_SSM   #LSN_TBay 

    Read more
  • HYMERS FALL FAIR 2022 Labour Day Weekend
    HYMERS FALL FAIR 2022 Labour Day Weekend

    HYMERS FALL FAIR 2022 Labour Day Weekend

    THUNDER BAY, ONTARIO ~~~~~  August 26, 2022 (LSNews)  The Hymers Agricultural Society is proud to announce its 110th Year and extremely excited to announce this year’s Hymers Fall Fair!! This year’s theme we will be celebrating “Apple Trees and Honey Bees.” There will be a full line-up of music to kick up your heels to, starting at 9:30 am both days, so we hope everyone will get an early start to the day and take in some music before visiting all of our wonderful animal features!

    #LSN_CircleTour #LSN_TBay 

    Read more
  • Sensational Hot Rods at Chippewa Park
    Sensational Hot Rods at Chippewa Park

    Sensational Hot Rods at Chippewa Park

    THUNDER BAY, ONTARIO ~~~~~  September 1, 2022 (LSNews)  The Friends of Chippewa Park announced today that the final Sundays in the Park Concert series will feature the Sensational Hotrods, one of the most popular entertainment groups in Northwestern Ontario.

    #LSN_TBay  #LSN_Arts 

    Read more
5
  • HYMERS FALL FAIR 2022 Labour Day Weekend
    HYMERS FALL FAIR 2022 Labour Day Weekend

    HYMERS FALL FAIR 2022 Labour Day Weekend

    THUNDER BAY, ONTARIO ~~~~~  August 26, 2022 (LSNews)  The Hymers Agricultural Society is proud to announce its 110th Year and extremely excited to announce this year’s Hymers Fall Fair!! This year’s theme we will be celebrating “Apple Trees and Honey Bees.” There will be a full line-up of music to kick up your heels to, starting at 9:30 am both days, so we hope everyone will get an early start to the day and take in some music before visiting all of our wonderful animal features!

    #LSN_CircleTour #LSN_TBay 

    Read more
6789
  • WTIP Announces Lineup for 15th Annual Radio Waves Music Festival
    WTIP Announces Lineup for 15th Annual Radio Waves Music Festival

    WTIP Announces Lineup for 15th Annual Radio Waves Music Festival

    COOK COUNTY, MINNESOTA ~~~~~  April 13, 2022 (LSNews)  Grand Marais, WTIP Community Radio is thrilled to announce the lineup for the 2022 Radio Waves Music Festival, Sept. 9 to 11, at Sweetheart’s Bluff in the Grand Marais Recreation Area. This marks the 15th year of this family-friendly festival, which features an array of diverse local and regional acts that span musical genres from folk singer-songwriters, classic country, R & B, rap and alt-rock to funk, zydeco and New Orleans jazz. The event showcases three days of live music under the big sky and bright stars on the North Shore of Lake Superior

    #LSN_Arts  #LSN_CookCounty  #LSN_MNNews 

    Read more
  • Shuniah Forty Miner
    Shuniah Forty Miner

    Shuniah Forty Miner

    THUNDER BAY, ONTARIO  ~~~~~  June 16, 2022 (LSNews)  The largest bike event in Northwestern Ontario is returning for 2022. The Shuniah Forty Miner Presented by Tbaytel, is a mountain bike marathon cross country race with the 48 kilometer race as the feature. Last year we saw over 500 people in attendance and this year, with COVID restrictions lifted, the Blacksheep Mountain Bike Club is expecting quite a large turn out. The event takes place September 9th and 10th at the beautiful Kinsman Park with the trails in Trowbridge Forest in Thunder Bay, ON

    #LSN_Sports  #LSN_Outdoors  #LSN_CircleTour

    Read more
  • Shuniah Forty Miner bike Event
    Shuniah Forty Miner bike Event

    Shuniah Forty Miner bike Event

    THUNDER BAY, ONTARIO ~~~~~  September 6, 2022 (LNews)  The largest bike event in Northwestern Ontario is returning for 2022. The Shuniah Forty Miner
    Presented by Tbaytel, is a mountain bike marathon cross country race with the 48 kilometer race as the feature. Last year we saw over 500 people in attendance and this year, with COVID restrictions lifted, the Blacksheep Mountain Bike Club is expecting quite a large turn out. The event takes place September 9th and 10th at the beautiful Kinsman Park on the trails in Trowbridge Forest in Thunder Bay, ON

    #LSN_Sport  #LSN_TBay  #LSN_NorWest

    Read more
10
  • WTIP Announces Lineup for 15th Annual Radio Waves Music Festival
    WTIP Announces Lineup for 15th Annual Radio Waves Music Festival

    WTIP Announces Lineup for 15th Annual Radio Waves Music Festival

    COOK COUNTY, MINNESOTA ~~~~~  April 13, 2022 (LSNews)  Grand Marais, WTIP Community Radio is thrilled to announce the lineup for the 2022 Radio Waves Music Festival, Sept. 9 to 11, at Sweetheart’s Bluff in the Grand Marais Recreation Area. This marks the 15th year of this family-friendly festival, which features an array of diverse local and regional acts that span musical genres from folk singer-songwriters, classic country, R & B, rap and alt-rock to funk, zydeco and New Orleans jazz. The event showcases three days of live music under the big sky and bright stars on the North Shore of Lake Superior

    #LSN_Arts  #LSN_CookCounty  #LSN_MNNews 

    Read more
  • Shuniah Forty Miner
    Shuniah Forty Miner

    Shuniah Forty Miner

    THUNDER BAY, ONTARIO  ~~~~~  June 16, 2022 (LSNews)  The largest bike event in Northwestern Ontario is returning for 2022. The Shuniah Forty Miner Presented by Tbaytel, is a mountain bike marathon cross country race with the 48 kilometer race as the feature. Last year we saw over 500 people in attendance and this year, with COVID restrictions lifted, the Blacksheep Mountain Bike Club is expecting quite a large turn out. The event takes place September 9th and 10th at the beautiful Kinsman Park with the trails in Trowbridge Forest in Thunder Bay, ON

    #LSN_Sports  #LSN_Outdoors  #LSN_CircleTour

    Read more
  • Shuniah Forty Miner bike Event
    Shuniah Forty Miner bike Event

    Shuniah Forty Miner bike Event

    THUNDER BAY, ONTARIO ~~~~~  September 6, 2022 (LNews)  The largest bike event in Northwestern Ontario is returning for 2022. The Shuniah Forty Miner
    Presented by Tbaytel, is a mountain bike marathon cross country race with the 48 kilometer race as the feature. Last year we saw over 500 people in attendance and this year, with COVID restrictions lifted, the Blacksheep Mountain Bike Club is expecting quite a large turn out. The event takes place September 9th and 10th at the beautiful Kinsman Park on the trails in Trowbridge Forest in Thunder Bay, ON

    #LSN_Sport  #LSN_TBay  #LSN_NorWest

    Read more
  • Twin of Chippewa Park Carousel Horse
    Twin of Chippewa Park Carousel Horse

    Twin of Chippewa Park Carousel Horse

    THUNDER  BAY, ONTARIO ~~~~~  August 22, 222022 (LSNews)  On July 21, Canada Post released an enchanting set of stamps to celebrate the wonder and playfulness of vintage carousels in Canada.

    #LSN_TBay #LSN_CircleTour  

    Read more
11
  • WTIP Announces Lineup for 15th Annual Radio Waves Music Festival
    WTIP Announces Lineup for 15th Annual Radio Waves Music Festival

    WTIP Announces Lineup for 15th Annual Radio Waves Music Festival

    COOK COUNTY, MINNESOTA ~~~~~  April 13, 2022 (LSNews)  Grand Marais, WTIP Community Radio is thrilled to announce the lineup for the 2022 Radio Waves Music Festival, Sept. 9 to 11, at Sweetheart’s Bluff in the Grand Marais Recreation Area. This marks the 15th year of this family-friendly festival, which features an array of diverse local and regional acts that span musical genres from folk singer-songwriters, classic country, R & B, rap and alt-rock to funk, zydeco and New Orleans jazz. The event showcases three days of live music under the big sky and bright stars on the North Shore of Lake Superior

    #LSN_Arts  #LSN_CookCounty  #LSN_MNNews 

    Read more
121314
  • Central Canada Resource Expo
    Central Canada Resource Expo

    Central Canada Resource Expo

    THUNDER BAY, ONTARIO  ~~~~~  July 30, 2022 (LSNews) Central Canada Resource Expo is a gathering place for all those who thrive in the business of resources (Mining, Forestry and Energy). The expo will be showcasing the latest in resource technologies, expand the discussion of sustainable development with industry leaders and provide a forum that fosters economic regional growth. The Expo is an opportunity to network with experts, ask questions, see the latest in technology and where the industries are going tomorrow. Cen-Can Resources Expo will be showcasing the richness of opportunities to the world Sept 14th -15th at the Canadian Lakehead Exhibition grounds in Thunder Bay.

    #LSN_Econ  #LSN_TBay  #LSN_NorWest

    Read more
15
  • Central Canada Resource Expo
    Central Canada Resource Expo

    Central Canada Resource Expo

    THUNDER BAY, ONTARIO  ~~~~~  July 30, 2022 (LSNews) Central Canada Resource Expo is a gathering place for all those who thrive in the business of resources (Mining, Forestry and Energy). The expo will be showcasing the latest in resource technologies, expand the discussion of sustainable development with industry leaders and provide a forum that fosters economic regional growth. The Expo is an opportunity to network with experts, ask questions, see the latest in technology and where the industries are going tomorrow. Cen-Can Resources Expo will be showcasing the richness of opportunities to the world Sept 14th -15th at the Canadian Lakehead Exhibition grounds in Thunder Bay.

    #LSN_Econ  #LSN_TBay  #LSN_NorWest

    Read more
1617
  • 39th Annual Toys for Tots Motorcycle Ride
    39th Annual Toys for Tots Motorcycle Ride

    39th Annual Toys for Tots Motorcycle Ride

    THUNDER BAY, ONTARIO  ~~~~~  September 14, 2022 (LSNews)   Motorcycle enthusiasts ride this Saturday in the 39th Anniversary Toys for Tots Ride in support of The Salvation Army Christmas Toy Campaign.

    Bikes sporting stuffed animals, trucks, dolls, and other toys will make their way across town to deliver their gifts. They will gather at Thunder Bay Harley-Davidson between 12:00 and 1:00 p.m. on Saturday, September 17, 2022.  The ride will leave at 1:00 p.m. with the bikers travelling through the city to The Salvation Army’s new Journey to Life Centre on Cumberland St. arriving about 1:25 p.m. where they will present their gifts.  Financial donations are also accepted.  Anyone not able to participate in the ride can drop off donations at The Salvation Army Journey to Life Centre prior to the ride.

    #LSN_TBay  #LSN_NorWest

    Read more
18
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  • 3rd Annual Golf for the Good
    3rd Annual Golf for the Good

    3rd Annual Golf for the Good

    COOK COUNTY, MINNESOTA  ~~~~~~ September 7, 2022  (LSNews)     Superior National at Lutsen is once again partnering with the North Shore Health Care Foundation to bring you the 3rd Annual Golf for the Good – NSHCF Weekend on Friday, Sept. 30 and Saturday, Oct. 1. It’s coming up fast and we need you!

    #LSN_Health  #LSN_CookCounty 

    Read more
1
  • 3rd Annual Golf for the Good
    3rd Annual Golf for the Good

    3rd Annual Golf for the Good

    COOK COUNTY, MINNESOTA  ~~~~~~ September 7, 2022  (LSNews)     Superior National at Lutsen is once again partnering with the North Shore Health Care Foundation to bring you the 3rd Annual Golf for the Good – NSHCF Weekend on Friday, Sept. 30 and Saturday, Oct. 1. It’s coming up fast and we need you!

    #LSN_Health  #LSN_CookCounty 

    Read more
  • Applications Due Oct 1 for Last Round of 2022
    Applications Due Oct 1 for Last Round of 2022

    Applications Due Oct 1 for Last Round of 2022

    COOK COUNTY, MINNESOTA  ~~~~~sEPEMBER 16, 2022 (LSNews)  The North Shore Health Care Foundation (NSHCF) will be awarding its final round of 2022 grant funds this fall. Applications for Foundation funding for projects that work toward a healthy community for all are due Saturday, Oct. 1 by 4 pm.

    The Foundation works to address gaps in health care and community health-related needs in Cook County. A total of $34,000 has been budgeted for in the 2022 NSHCF budget to help fund community organizations and programs that contribute to equitable health care and healthy living in Cook County this year, through the semi-annual community grant program.

    #LSN_Health   #LSN_CookCounty   %LSN_MNNews 

    Read more
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