Ontario Fall Economic Statement Focuses on Housing, Jobs

The Ford government is set to table its Fall Economic Statement on Thursday, a mini-budget document expected to focus on infrastructure and provide the latest assessment of how U.S. tariffs are affecting Ontario’s economy.

Finance Minister Peter Bethlenfalvy will present the fiscal update in the legislature around 1 p.m., with parts of the statement already released ahead of time.

Leading up to the fall economic statement, the government announced that it would waive its portion of the harmonized sales tax (HST) on new homes for first-time homebuyers on properties up to $1 million. In addition, the government pledged $1.1 billion in funding for home care projects. The statement will also include a major overhaul of provincial election laws, which will nearly double donation limits and eliminate fixed-term election dates.

The document is expected to provide insight into the overall state of the provincial economy, including borrowing levels, projections for unemployment, economic growth, and debt.

Reacting to the federal budget, which was tabled on Tuesday, Bethlenfalvy said Ottawa’s plan “lacks some ambition” and did not do enough to safeguard auto jobs in Ontario. He remarked, “I’ve had people, workers, asking me, ‘What’s in the budget for Oshawa? What’s in it for Windsor, if you’re out of a job or being challenged in the auto sector?’ There isn’t much there.”

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

Bethlenfalvy, however, cautioned that this year’s statement should be seen primarily as an update rather than a full budget. “It is an update, not a budget,” he said on Wednesday.