March 7, 2019 / 4:17 PM / 8 months ago

UPDATE 1-Ontario to present budget April 11; sees 'Goldilocks' approach

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TORONTO, March 6 (Reuters) - The Canadian province of Ontario is looking to balance the books at a pace that is not too fast and not to slow, Finance Minister Vic Fedeli said on Thursday as he announced the budget for the 2019-20 fiscal year will be presented on April 11.

This will be the first budget for the province’s new Conservative government, which said in November it is cutting spending and taxes in an effort to boost the economy and rein in a deficit that is projected to be the biggest in seven years in 2018-19.

Fedeli said it would present a detailed plan of how the province will balance the budget in April.

“I call the plan, the path, the Goldilocks approach. It won’t be too soon because that is not responsible. It won’t be too long because anybody can do that. Our budget balance will be just right,” Fedeli said.

Ontario has one of the largest sub-sovereign debts in the world, at nearly C$350 billion ($260.55 billion) in March last year. ($1 = 1.3433 Canadian dollars) (Reporting by Fergal Smith; Editing by Jeffrey Benkoe)

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