Highlights of Ontario’s 2025 budget: U.S. tariff measures, boost for alcohol market [Video]

The Ontario government tabled a budget Thursday that focused on investments it says will protect Ontario workers in the face of U.S. President Donald Trump’s tariffs.

The province is projecting a deficit of $14.6 billion this year, up from a forecast of $4.6 billion in last year’s budget, and a deficit of $7.8 billion next year.

Finance Minister Peter Bethlenfalvy said the budget seeks to help Ontario businesses and workers “weather the storm” to make the province’s economy resilient and competitive.

Here are the highlights:

U.S. TARIFFS AND ONTARIO WORKERS

The budget is pledging to create a $5-billion fund to provide immediate relief to support sectors of the economy facing tariff-related disruptions. The budget describes this fund as an “emergency backstop” that will provide …