Budget 2022

2022 Ontario budget summary

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On April 28, 2022, Finance Minister Peter Bethlenfalvy tabled Ontario’s 2022-2023 budget (ON Budget 2022). 

ON Budget 2022 shows that the province projects a deficit of $13.5 billion for the 2021-2022 fiscal year, compared to a $33.1 billion deficit projected for the same fiscal year in the previous budget. 

The province projects a deficit over the next three years as follows: 

Year Projected surplus/(deficit)
2022-23 ($19.9 billion) 
2023-24 ($12.3 billion) 
2024-25 ($7.6 billion) 

Visit our Budget 2022 hub to learn more about all federal and provincial budgets. 


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