First Quarter Finances

Published on August 13, 2020

 

To protect the health and economic well-being of the people of Ontario, the government has made additional investments in the fight against COVID-19, and allocated more support for people, jobs, a safe reopening, and the prevention of – and, if necessary, response to – a second wave.

 

These investments bring the government’s COVID-19 response action plan to a projected $30 billion, up from $17 billion announced in Ontario’s Action Plan: Responding to COVID-19 on March 25, 2020.

 

Dealing with COVID-19 wasn’t a choice for any of us, but how we responded was. From the very beginning, we chose to do whatever was necessary to protect the people of Ontario from this pandemic and support them as they deal with the unprecedented impact on their lives.

 

Building on the Action Plan’s historic level of prudence and flexibility, today’s fiscal update has included additional prudence totalling almost $9.6 billion to ensure that additional resources are available to the people of Ontario during the fight against COVID-19. This approach ensures our province can be responsive amidst a period of unprecedented uncertainty.

 

The priority is protecting the health and well-being of the people and economy of this province. We promised to do whatever is necessary to defeat COVID-19. We remain committed to that promise.

 

From the outset, the government determined that putting public health first not only would save lives, but was the smartest economic policy. The faster and steadier the progress to contain the outbreak, the sooner restrictions can be lifted so customers can return to businesses and employees can get back to work. While we still have a long road to recovery, defeating the virus is essential to getting the economy growing again and to ensure the long-term sustainability of the public’s finances.

 

To learn more: Click Here and Here

 

Ontario's First Quarter Finances Document is availble for download: Here