HomeWorldOntario recorded a surplus and a decline in education spending in the...

Ontario recorded a surplus and a decline in education spending in the last fiscal yearSEDI News

Ontario ended the last fiscal year with a $2.1-billion surplus, while it spent $1.4 billion less than planned on education.

The surplus is being used to help reduce Ontario’s net debt, which is about $380 billion, and the government says it will pause the automatic pay raises lawmakers receive when there is a surplus.

Government officials say the surplus is the result of revenues that were 20 percent higher than budget projections for 2021, largely due to higher-than-expected inflation and a “resilient” economy.

read more:

Ontario CUPE education workers begin voting on whether to strike

Actual government spending in the fiscal year that ended in March was $2.5 billion less than budgeted spending plans, including $1.4 billion less in education, which officials say is partly due to the end of time-limited COVID-19 support.

Story continues below Advertisement

Health spending was higher than planned due to money going mostly to hospitals and long-term care homes to combat the Covid-19 pandemic and vaccination strategies.

The government is also announcing it will increase the amount it will provide in direct payments to parents for tutoring support from $225 million to $365 million, but has not yet provided any details on how the program will work.


Click to play video: 'Ontario Prepares for Post-Covid-19 Challenges'







Ontario is preparing to face post-COVID-19 challenges


Ontario is preparing to face post-COVID-19 challenges

© 2022 The Canadian Press

.

RELATED ARTICLES

Most Popular