What they're saying about the FES

And MPPs' cheeky Halloween costumes

Presented by the Ontario Retirement Communities Association

ABOVE THE FOLD

The Fall Economic Statement has landed. The Ford government may have leaked most of the banner items in the run-up, but there’s still plenty to sink our teeth into. Here are the highlights, reaction, and reasons why it matters.

What’s new…

— A rosier outlook: The deficit has dwindled to $6.6 billion, down from $9.8 billion, with the government on track to wipe out the red ink by the March budget, just in time for what could be an early election. Officially, the books wouldn’t be balanced until fiscal 2026-27 — but Finance Minister PETER BETHLENFALVY says he’s an “optimist” and “always hoping that I can beat the numbers.”

The numbers back that up: Next year’s deficit is pegged at $1.5 billion, but that is the province’s rainy-day reserve fund, so expenses and revenues are pretty much already balanced. Recall: My sources previously suggested as much, saying the PCs might be hanging on to that good-news announcement