We are not immune to the global economic environment, so our revenues are going down and our costs are going up on a lot of things."

Ontario Finance Minister Peter Bethlenfalvy says critics are unfairly attacking the province's 2024 budget.

They are wrong, the minister told the National Post in late May, "and I'll tell you why."

"We are trying to balance. I am a big believer in balanced books," Bethlenfalvy said. The minister blamed the province's long-running budget deficit on stagnant revenues "because the economy is slow."

Last year, the minister said the province was on track to balance its budget by 2024, even projecting a $200 million surplus. However, in late March, Bethlenfalvy said Ontario's upcoming budget would more than triple the deficit, from $3 billion to nearly $10 billion.

“We’re not immune to global economic forces, so our revenues are going down and the costs of many things are going up, including for governments,” Bethlenfalvy told reporters after presenting the budget at Queen’s Park in late March.

“You can either slow down or you can keep moving forward, supporting infrastructure spending, supporting the economy, supporting workers, and that’s the path we’ve chosen.”

Ontario’s Finance Ministry plan includes increased funding for housing, health care, infrastructure and education. Many Conservatives have expressed frustration that Premier Doug Ford’s Progressive Conservative government has failed to deliver on its previous promises. Meanwhile, Ontario’s Liberals and New Democrats have decried the budget for failing to make a proper commitment to reviving the province.

Yuri B