Shocker -- Deficit lower than predicted!

Once again, the Ontario government has reduced the projected deficit for 2010-11.  This time, they estimate in the provincial Budget that it will be $16.7 billion.  That is $3 billion less than planned in the 2010 provincial budget.  This is just the latest in a series of reductions in deficit estimates emanating from the Ontario government, many recounted in this blog.

This year's deficit (for 2011-12) is estimated (suspiciously) at just almost the same amount, despite a growing economy.  So we may well see one more (happy) announcement concerning the deficit before the provincial election in the fall.


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