Ford Government to Give Economic Update Amid Tariffs

The Ford government is set to release its fall economic statement on Thursday, a mini-budget document expected to focus on infrastructure and detail the latest impacts of U.S. tariffs on Ontario's economy.

Finance Minister Peter Bethlenfalvy will deliver the fiscal update in the legislature around 1 p.m., parts of which have already been released.

Ahead of the fall economic statement, the government announced it would waive its portion of the Harmonized Sales Tax on new homes up to $1 million for first-time homebuyers.

It also announced $1.1 billion in funding for home care projects, as well as a major change to provincial election law that will nearly double donation limits and eliminate fixed-term election dates.
The document will also shed light on the state of the provincial economy, borrowing and unemployment, growth and debt projections.
Responding to the federal budget tabled on Tuesday, Bethlenfalvy said the Ottawa document "lacked some ambition" and didn't do enough to protect auto jobs in Ontario.

"I've been asked by people, by workers, 'What's in the budget for Oshawa? What's in it for Windsor, if you've lost your job or you're facing challenges in the auto sector?'" he said. "There's not much there."

The Ford government has typically treated the fall economic statement as a mini-budget that includes major new policies. Last year, for example, the government announced $200 cheques for Ontario residents as part of the statement.

However, Bethlenfalvy has tempered expectations somewhat for the latest version.