Ontario Public Accounts Show Record Spending Increase, Relief from COVID-19 Supports | The Canadian News

TORONTO – Ontario reports a record increase in spending over the past fiscal year as it battled the COVID-19 pandemic.

It says program expenditures in 2020-21 were $ 169 billion, $ 16.7 billion more than the previous year.

The figures are part of the government’s report on its public accounts 2020-21, which breaks down the financial outlook for the fiscal year ending March 31.

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Ontario Spent No COVID-19 Response Program Money In Q1, Watchdog Says

Despite the record increase, the province says spending was still $ 5.6 billion lower than forecast because the third wave of COVID-19 infections peaked later than expected, after the fiscal year ended. .

The province says the allocated unspent money will be accounted for in this fiscal year.

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The deficit for the year is set at $ 16.4 billion, which is lower than projected in part due to higher-than-expected tax revenues and people receiving government support for a pandemic.

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