Spending plan will add about $70 billion to the net debt, increasing it to almost $400 billion in 2020-21.
Liberals will post a $22.1-billion shortfall this fiscal year, $4 billion more than $18.1 billion projection.
Surplus with the United States narrowed to $2.6 billion compared with $2.9 billion in January.
Deficit of $6.7 billion as Liberals’ decision reverses a key promise to stay in the black this year.
Porter says IMF should look at the “other side of the balance sheet” which has kept pace or outgrown the size of the debt.
Firms are reluctant to commit to investments in Ontario and Quebec with uncertainty surrounding NAFTA talks.
Province will run a deficit of less than 1% of GDP starting next year, no dollar amount provided.
Forecasting $18.1-billion shortfall for 2018-19 that will gradually shrink to $12.3 billion in 2022-23.
Morneau all but ruled out specific measures that respond to the US direction on tax reform.
Will bring in $53 million less than anticipated in March from taxes and non-renewable resources.
New policy measures will be aimed at providing tools for middle-income earners to continue contributing to the economy.
The gap is narrowing as net per-person debt converges with Ontario’s.
S&P Global Ratings expects continued high deficits in the next two years as the province tries to stimulate the economy.
Result compared with a surplus of $7.5 billion during the April-to-February period a year earlier.
To include a host of new spending measures focused on pocketbook issues.