Ontario is stepping up to the plate with a $17 billion response to ensure healthcare systems, communities and the economy are positioned to weather the Covid-19 pandemic.
Provincial Finance Minister Rod Phillips March 2020 Fiscal Update includes $7 billion for the healthcare systems and direct support for people and jobs.
It also includes $10 billion to support people and businesses through tax and other deferrals to improve their cash flow, protect jobs and household budgets.
A dedicated $1 billion Covid-19 contingency fund and $3.3 billion in additional healthcare resources to protect people’s health is also included.
Phillips says the funding will enhance hospital capacity, protect loved ones in long-term care and support public health’s efforts to flatten the curve.
The Province is projecting a deficit of $9.2 billion in 2019–20, an improvement of $1.1 billion relative to the 2019 Budget.
As a result of the response to the COVID-19 outbreak, the government is planning for a deficit of $20.5 billion in 2020–21.