Posted on May 2nd, 2014 in Domestic Tax, General Business

2014 Provincial Budget Commentary


On May 1, 2014 Finance Minister Charles Sousa tabled his second Budget. It should be noted that the NDP party has made a public statement that they will not support the current budget proposals, so Ontarians will most likely be headed back to the polls.

Below is a summary of the budget provisions as presented but will most likely not be enacted.

The deficit for the 2013-14 fiscal year is projected to be $11.3 billion, which is $400 million less than the amount estimated when the 2013 Budget was tabled. The deficit for the 2014-15 year is projected to be $12.5 billion and the longer-term forecast continues to call for a return to a surplus by 2016-17.


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