Ottawa/Queens Park



financesToday Ontario released the 2017-18 Third Quarter Finances, which confirm the government is on track to balance the budget this year while making investments in the programs and services people and families rely on most.
Projections in the report include:

- Total revenue of $150.1 billion, up $115 million from the 2017 Budget forecast
- Program expense of $137.4 billion, up $215 million from the 2017 Budget forecast
- Interest on debt expense of $12.2 billion, unchanged from the 2017 Budget forecast
Key expense changes include increased funding for the Ontario Student Assistance Program (OSAP), responding to greater demand following the earliest launch of OSAP applications ever. More than 210,000 full-time university and college students are currently receiving free tuition after major changes were made by the government to ensure that the opportunity to attend a college or university is based on a student's potential, not their ability to pay.

While Ontario's economy has shown steady growth, including leading the G7 in GDP growth in recent years, the government knows that more must be done to encourage increased growth and ensure that the benefits of a growing economy are shared fairly across the province.

There are a number of risks that could affect Ontario's economic outlook which the government is currently monitoring, including global economic growth, rising interest rates and potential changes to the North American Free Trade Agreement (NAFTA). Further details on the outlook for the Ontario economy and the province's fiscal plan will be presented in the 2018 Budget.

source: media release

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