Ontario Economic and Fiscal Update 2022
Budget 2022On November 14, 2022, Finance Minister Peter Bethlenfalvy delivered the 2022 Ontario Economic Outlook and Fiscal Review (the “Fiscal Review”).
On February 22, 2022, Finance Minister Selina Robinson tabled British Columbia’s 2022 budget (BC Budget 2022).
BC Budget 2022 estimates that the province’s deficit for the 2021-22 fiscal year was $483 million as compared to the $9.7 billion deficit projected for the same fiscal year in the previous budget. The decrease in the deficit is partly due to the financial rebound of the Insurance Corporation of British Columbia (ICBC) and the higher than expected property transfer taxes from home sales.
From a fiscal perspective, the province continues to project the following deficits over the next three years:
| Year | Projected deficits |
| 2022-23 |
$5.461 billion |
| 2023-24 |
$4.182 billion |
| 2024-25 | $3.181 billion |
Visit our Budget 2022 hub to learn more about all federal and provincial budgets.
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