[La version française suit le texte anglais.]
PETER WELTMAN TO ADDRESS THE STANDING COMMITTEE ON FINANCE AND ECONOMIC AFFAIRS
TORONTO, June 1, 2020 – Ontario’s Financial Accountability Officer Peter Weltman will address Ontario’s Standing Committee on Finance and Economic Affairs today at 11:00 a.m., marking the first presentation of its kind since the Financial Accountability Office of Ontario (FAO) was established in 2015. Mr. Weltman’s presentation will examine the Province’s current fiscal position, economic outlook, and impacts from the COVID-19 pandemic.
Mr. Weltman will be available for on-the-record media interviews immediately following his presentation. Please contact Jessica Martin at 647.527.2385 or JMartin@fao-on.org to make arrangements.
- The COVID-19 Pandemic has pushed Ontario economy into sharp recession.
- The COVID-19 economic shutdown has directly affected one in three jobs in Ontario.
- FAO projects a record $41 billion budget deficit in 2020-21.
- Ontario’s debt burden will increase to record high.
About the FAO
Under the Financial Accountability Officer Act, 2013, the Officer provides independent analysis on the state of the Province’s finances, trends in the provincial economy and related matters important to the Legislative Assembly of Ontario. Visit our website at www.fao-on.org/en and follow us on Twitter at twitter.com/InfoFAO.