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Ontario Finance Minister Peter Bethlenfalvy unveiled the 2025 provincial budget Thursday, outlining a $200-billion, 10-year investment plan aimed at shielding the province from economic uncertainty while bolstering its competitiveness and resilience.
Titled A Plan to Protect Ontario, the budget responds to ongoing global economic headwinds, including U.S. tariffs, with strategic investments in infrastructure, job training, and tax relief for both individuals and businesses.
“Our government is delivering on our mandate to protect Ontario and help workers and businesses weather the storm, while creating the long-term foundations for a strong, resilient and competitive economy,” Bethlenfalvy said. “We’re making the investments in workers, infrastructure and services that will protect Ontario, no matter what.”
The province will invest an additional $1 billion in training over three years, raising its Skills Development Fund to $2.5 billion. A new $5-billion “Protecting Ontario Account” will act as an emergency backstop for businesses facing tariff-related disruption.
The budget includes a $500-million Critical Minerals Processing Fund to spur domestic processing of Ontario-mined minerals and attract investments in the sector. The government is also expanding its support for Indigenous partnerships, tripling its Indigenous Opportunities Financing Program to $3 billion and broadening its scope beyond electricity.
Another $70 million over four years will help Indigenous communities participate in mineral development, and $10 million will support new scholarships for First Nations students pursuing careers in resource development.
“We put forward a plan that reflects the government’s vision and the mandate we received from the people of this great province to do whatever is necessary to protect Ontario workers, businesses and communities,” Bethlenfalvy said.
Ontario’s financial position has improved significantly, with two credit rating upgrades in 2024. The government maintains its goal to balance the budget by 2027–28.
Tax measures include a proposal to permanently cut fuel and gasoline taxes, saving households an average of $115 annually, and a proposed enhancement of the Ontario Made Manufacturing Investment Tax Credit—temporarily increasing the credit rate to 15 per cent and expanding eligibility to more corporations. These changes are expected to save businesses $1.3 billion over three years.
Northumberland-Peterborough South MPP David Piccini spoke with PTBOTODAY.ca and says the planned removal of 407 East tolls from Brock Road to the 35/115 is key for the region as it expands.
The budget also earmarks more than $200 billion for infrastructure over the next decade. That includes $33 billion in 2025–26 alone, with $30 billion for highways, $61 billion for public transit, $56 billion for health care infrastructure and more than $30 billion for schools and child care spaces.
