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Ontario Pushes Back Balanced Budget as Deficit Climbs to $13.8 Billion

  Unveiling Ontario's 2026 budget, Finance Minister Peter Bethlenfalvy said "the world has changed and we must change with it," citing trade tensions, supply chain disruptions and shifting markets. Ontario’s latest budget forecasts a deepening deficit of $13.8 billion and pushes the province’s return-to-balance target back another year, reflecting economic uncertainty and rising spending pressures. The government cites global instability, supply‑chain disruptions, and slower economic growth as key drivers behind the worsening fiscal outlook. Ontario is projecting a $13.8‑billion deficit in its latest budget, marking a significant increase from last year’s forecast and delaying the province’s return to balanced books until 2028–29 . The revised outlook represents a 77% jump from the previously estimated $7.8‑billion deficit, underscoring the mounting fiscal pressures facing the province.  Finance Minister Peter Bethlenfalvy attributed the deeper deficit to global eco...
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TTC Strike Averted: Framework Agreement Reached Between Union and Management

 

In a last-minute development, the Toronto Transit Commission (TTC) and the Amalgamated Transit Union (ATU) Local 113 have reached a “framework settlement,” effectively averting a planned strike. The agreement comes after intense negotiations and addresses critical issues such as job security, protections against job outsourcing, and benefits for active members and pensioners.

The TTC’s buses, streetcars, subways, and Wheel-Trans vehicles will operate normally on Friday, providing relief to the city’s 1.3 million transit users. However, the finalized details of the framework remain undisclosed, pending further work and ratification by union members. The mood at the bargaining table has been one of frustration, with the union emphasizing the need for progress and alignment with transit delivery goals.

While the strike has been averted, the TTC’s role in delaying the framework agreement has drawn criticism. Transit riders can breathe a sigh of relief, but the focus now shifts to ensuring a fair and reasonable contract for all parties involved.



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