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PC's $40B election platform: no new taxes, but likely a higher debt

The Ford government had previously said that the province would be on track to balance its budget by 2026–2027 in its fall economic statement, which came out last November.

Published Feb 24, 2025 at 8:00pm

Barbara Patrocinio
By
Barbara Patrocinio
PC's $40B election platform: no new taxes, but likely a higher debt

Ontario PC Leader Doug Ford takes his leave after making an announcement in Toronto on Monday February 24, 2025. THE CANADIAN PRESS/Chris Young

Within three days for voters to head out to the polls, the PCs released their campaign platform this Monday, promising up to $40 billion in new spending. Party leader Doug Ford said that fighting the U.S. tariffs would likely increase the province's deficit.

A central pillar of the PC platform is to respond to the U.S. tariffs. They are proposing $5 billion to the Protect Ontario Account to counter trade restrictions, alongside $10 billion in business tax deferrals and $3 billion in payroll tax relief for small businesses. There are also major infrastructure spendings.

The PCs "Fighting Gridlock to Protect Ontario's Economy" plan. (Screengrab photo)

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