Ontario's new deficit for 2013-14 is estimated to be $11.3 billion -- a $400 million improvement compared with the 2013 budget. This marks the fifth year in a row that the province is on track for a deficit lower than forecast.
The province's performance against its fiscal targets to date is the result of a responsible and balanced approach to fiscal management, and the government's commitment to ensuring value for taxpayers' money by making every dollar count.
With the economy around the world growing at a much slower pace, Ontario must continue to invest to help spur growth. The province will also continue to invest in important public services like health care and education, build modern infrastructure and support a dynamic and innovative business climate.
A measured and moderate approach to balancing the budget is part of the government's economic plan that is creating jobs for today and tomorrow. The comprehensive plan and its six priorities focus on Ontario's greatest strengths - its people and strategic partnerships.