Ontario Fall Economic Statement
Ontario Finance Minister Rod Phillips tabled his first and the Ford Government’s second Fall Economic Statement on November 6, 2019. It is one of the highlights of the abbreviated fall session of the Legislature, which resumed sitting on October 28th and is scheduled to recess again on December 12th.
By way of reminder, the Fall Economic Statement is the government’s mid-year report on the province’s finances. The fiscal year begins on April 1st, so the report today is to publicly disclose where Ontario is at as of September 30th, as well as providing guidance for the second half of the fiscal year. Over time, these events have evolved into what some call “mini-budgets”, as provincial and federal governments have developed the practice of making new, budget-like announcements midway through the fiscal year.