Ontario will present its fall economic statement on October 29, Finance Minister Peter Bethlenfalvy announced Thursday, according to The Canadian Press.

The date was announced at a Canadian Club breakfast in Toronto on October 22. The minister said the statement would update the province’s finances and set out the next phase of the government’s economic plan, but did not reveal its measures.

Deficits remain part of the outlook

Canadian Press reports that Ontario finished 2025–26 with a $13-billion deficit. Bethlenfalvy said the current year’s shortfall is expected to be larger, consistent with the spring budget’s $13.8-billion projection.

Those figures describe different fiscal years; the October 29 statement has yet to supply its revised outlook. The spring budget projected a return to balance in 2028–29.

Bethlenfalvy argued that the province had handled U.S. tariffs better than economists expected, while slower growth still weighed on its finances. That is the minister’s assessment.

Sources: Allison Jones, The Canadian Press, via CHCH, October 22; Canadian Club Toronto’s October 22 event listing.

Editorial illustration of Ontario’s fiscal planning; not a photograph of the announcement.